General Electric (NYSE:GE) SVP Riccardo Procacci Sells 7,000 Shares

General Electric (NYSE:GE) SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

General Electric Trading Up 3.4 %

Shares of GE opened at $184.92 on Friday. General Electric has a 12 month low of $90.34 and a 12 month high of $194.80. The stock’s 50-day moving average is $180.78 and its two-hundred day moving average is $169.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $200.13 billion, a PE ratio of 32.50, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for 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 revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. 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 (DPR) is presently 19.68%.

Institutional Investors Weigh In On General Electric

A number of large investors have recently added to or reduced their stakes in GE. Cypress Capital Group increased its position in shares of General Electric by 3.5% during the third quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock worth $351,000 after acquiring an additional 63 shares during the last quarter. Cornerstone Advisors LLC grew its stake in General Electric by 1.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 50,500 shares of the conglomerate’s stock valued at $9,523,000 after purchasing an additional 800 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in General Electric by 20.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock worth $1,628,000 after purchasing an additional 1,445 shares during the last quarter. Payden & Rygel raised its position in shares of General Electric by 0.5% in the 3rd quarter. Payden & Rygel now owns 64,200 shares of the conglomerate’s stock valued at $12,107,000 after purchasing an additional 300 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of General Electric during the 3rd quarter valued at approximately $243,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GE shares. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price 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. Finally, Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

About General Electric

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.