General Electric (NYSE:GE) Shares Bought by Perpetual Ltd

Perpetual Ltd increased its stake in General Electric (NYSE:GE) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,785 shares of the conglomerate’s stock after buying an additional 1,905 shares during the quarter. Perpetual Ltd’s holdings in General Electric were worth $2,633,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in General Electric by 0.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 41,231 shares of the conglomerate’s stock worth $6,877,000 after buying an additional 116 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $29,000. Ballentine Partners LLC lifted its stake in shares of General Electric by 1.7% in the fourth quarter. Ballentine Partners LLC now owns 21,772 shares of the conglomerate’s stock worth $3,631,000 after acquiring an additional 374 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in General Electric by 3.8% in the fourth quarter. Pure Financial Advisors LLC now owns 3,384 shares of the conglomerate’s stock valued at $564,000 after purchasing an additional 123 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in General Electric by 2.7% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,472 shares of the conglomerate’s stock valued at $1,079,000 after purchasing an additional 173 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GE. 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 note on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective 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. Royal Bank of Canada dropped 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. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Up 2.5 %

General Electric stock opened at $187.46 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $101.16 and a one year high of $194.80. The company has a 50-day simple moving average of $174.30 and a 200-day simple moving average of $174.30. The firm has a market capitalization of $202.89 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities analysts expect that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was 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 available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction 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 $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

About General Electric

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.