State Street Corp Buys 898,296 Shares of General Electric (NYSE:GE)

State Street Corp grew its position in shares of General Electric (NYSE:GE) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,322,827 shares of the conglomerate’s stock after purchasing an additional 898,296 shares during the period. State Street Corp owned approximately 4.00% of General Electric worth $8,181,801,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tsfg LLC grew its holdings in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Macroview Investment Management LLC raised its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC lifted its holdings in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Trading Up 1.0 %

Shares of General Electric stock opened at $182.61 on Thursday. The firm has a market capitalization of $197.63 billion, a PE ratio of 32.09, a P/E/G ratio of 1.78 and a beta of 1.17. The firm’s 50-day moving average price is $182.53 and its 200 day moving average price is $172.15. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. On average, sell-side analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio is presently 19.68%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.