Daiwa Securities Group Inc. Acquires 17,201 Shares of General Electric (NYSE:GE)

Daiwa Securities Group Inc. boosted its holdings in General Electric (NYSE:GE) by 14.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,532 shares of the conglomerate’s stock after acquiring an additional 17,201 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Electric were worth $25,748,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tsfg LLC boosted its position in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares during the last quarter. Macroview Investment Management LLC boosted its holdings in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Strategic Advisors LLC grew its stake 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 worth $428,000 after acquiring an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the last quarter. Finally, Allegheny Financial Group LTD lifted its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.4 %

General Electric stock opened at $181.15 on Friday. The firm has a market cap of $196.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.76 and a beta of 1.19. 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 has a 12 month low of $94.54 and a 12 month high of $194.80. The stock has a fifty day simple moving average of $183.22 and a two-hundred day simple moving average of $171.12.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during 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%. General Electric’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. Equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Barclays lifted their target price 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. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.