Rakuten Securities Inc. Lowers Holdings in General Electric (NYSE:GE)

Rakuten Securities Inc. trimmed its position in shares of General Electric (NYSE:GE) by 69.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 549 shares of the conglomerate’s stock after selling 1,220 shares during the quarter. Rakuten Securities Inc.’s holdings in General Electric were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter worth $31,000. Finally, Costello Asset Management INC grew its holdings in shares of General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 80 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

General Electric Trading Down 1.0 %

GE stock opened at $182.64 on Wednesday. The company has a market capitalization of $197.67 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $91.77 and a 1-year high of $194.80. The business has a 50 day simple moving average of $180.98 and a two-hundred day simple moving average of $170.19.

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 firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Research analysts anticipate that General Electric will post 4.22 EPS 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 issued a $0.28 dividend. The ex-dividend date 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 19.68%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Barclays increased their price target 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 objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.