2,106 Shares in General Electric (NYSE:GE) Purchased by Shum Financial Group Inc.

Shum Financial Group Inc. acquired a new position in General Electric (NYSE:GE) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,106 shares of the conglomerate’s stock, valued at approximately $369,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Settian Capital LP bought a new position in shares of General Electric in the 3rd quarter valued at approximately $377,000. Avestar Capital LLC raised its stake in shares of General Electric by 11.1% in the 3rd quarter. Avestar Capital LLC now owns 5,273 shares of the conglomerate’s stock valued at $996,000 after acquiring an additional 527 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of General Electric by 15.0% in the 3rd quarter. Brooklyn Investment Group now owns 6,394 shares of the conglomerate’s stock valued at $1,206,000 after acquiring an additional 835 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of General Electric by 2.6% in the 3rd quarter. D.A. Davidson & CO. now owns 35,280 shares of the conglomerate’s stock valued at $6,653,000 after acquiring an additional 893 shares in the last quarter. Finally, Associated Banc Corp grew its holdings in shares of General Electric by 86.0% during the 3rd quarter. Associated Banc Corp now owns 10,712 shares of the conglomerate’s stock worth $2,020,000 after purchasing an additional 4,954 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on GE shares. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Buying and Selling at General Electric

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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Up 1.4 %

GE traded up $2.61 on Tuesday, hitting $182.82. 460,978 shares of the company were exchanged, compared to its average volume of 6,171,865. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The company has a market cap of $197.86 billion, a PE ratio of 31.67, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock’s fifty day moving average is $183.20 and its 200-day moving average is $171.22.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for 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%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 0.61%. General Electric’s dividend payout ratio is 19.68%.

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.