General Electric (NYSE:GE) Shares Sold by S&CO Inc.

S&CO Inc. trimmed its position in General Electric (NYSE:GE) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,858 shares of the conglomerate’s stock after selling 3,381 shares during the quarter. S&CO Inc.’s holdings in General Electric were worth $7,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of General Electric by 34.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate’s stock valued at $14,483,000 after buying an additional 19,766 shares during the last quarter. Claro Advisors LLC grew its position in shares of General Electric by 13.5% in the 3rd quarter. Claro Advisors LLC now owns 4,795 shares of the conglomerate’s stock valued at $904,000 after buying an additional 571 shares during the last quarter. Concord Asset Management LLC VA grew its position in shares of General Electric by 43.3% in the 3rd quarter. Concord Asset Management LLC VA now owns 4,075 shares of the conglomerate’s stock valued at $768,000 after buying an additional 1,231 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter valued at $28,000. Finally, Tower Bridge Advisors grew its position in shares of General Electric by 29.6% in the 3rd quarter. Tower Bridge Advisors now owns 2,630 shares of the conglomerate’s stock valued at $496,000 after buying an additional 600 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on GE shares. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE:GE opened at $176.93 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The firm has a 50-day moving average price of $182.29 and a two-hundred day moving average price of $170.63. General Electric has a twelve month low of $93.05 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. As a group, research analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.