Aljian Capital Management LLC Acquires New Stake in General Electric (NYSE:GE)

Aljian Capital Management LLC purchased a new stake in shares of General Electric (NYSE:GE) in the third quarter, HoldingsChannel reports. The institutional investor purchased 4,054 shares of the conglomerate’s stock, valued at approximately $764,000.

Several other hedge funds also recently modified their holdings of the company. Tsfg LLC boosted its position in shares of General Electric by 12.8% during the 3rd 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 increased its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC raised its holdings in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD boosted its holdings in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Down 0.8 %

Shares of General Electric stock opened at $176.93 on Monday. General Electric has a 1 year low of $93.05 and a 1 year high of $194.80. The company’s fifty day simple moving average is $182.29 and its 200-day simple moving average is $170.71. The company has a market cap of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.75 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 (NYSE:GE) last posted 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on GE. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Activity

In other news, 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 value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric 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.