Boston Family Office LLC Trims Stock Position in General Electric (NYSE:GE)

Boston Family Office LLC cut its holdings in General Electric (NYSE:GE) by 32.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312 shares of the conglomerate’s stock after selling 627 shares during the quarter. Boston Family Office LLC’s holdings in General Electric were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Newport Trust Company LLC purchased a new stake in shares of General Electric in the 2nd quarter worth about $2,613,332,000. Legal & General Group Plc boosted its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Jennison Associates LLC boosted its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after purchasing an additional 457,038 shares in the last quarter. Finally, Swiss National Bank boosted its stake in General Electric by 0.4% in the 3rd quarter. Swiss National Bank now owns 3,249,062 shares of the conglomerate’s stock worth $612,708,000 after purchasing an additional 12,200 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 equities analysts have issued reports on the stock. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price 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 increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $180.21 on Tuesday. The company has a 50-day simple moving average of $183.20 and a 200-day simple moving average of $171.22. General Electric has a one year low of $94.54 and a one year high of $194.80. 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 has a market capitalization of $195.04 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) 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.