General Electric (NYSE:GE) Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC increased its stake in shares of General Electric (NYSE:GE) by 32.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,325 shares of the conglomerate’s stock after buying an additional 1,778 shares during the quarter. AlphaCore Capital LLC’s holdings in General Electric were worth $1,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% in 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 period. Toth Financial Advisory Corp acquired a new position in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric during the third quarter worth about $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $178.87 on Friday. The company has a 50-day simple moving average of $183.17 and a 200-day simple moving average of $171.01. 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 company has a market cap of $193.59 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80.

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 return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

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

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.