KBC Group NV Has $31.82 Million Position in General Electric (NYSE:GE)

KBC Group NV increased its position in shares of General Electric (NYSE:GE) by 96.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 168,735 shares of the conglomerate’s stock after purchasing an additional 83,053 shares during the period. KBC Group NV’s holdings in General Electric were worth $31,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC boosted its holdings in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares in the last quarter. Mackenzie Financial Corp boosted its stake in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new position in General Electric in the second quarter valued at about $1,569,000. GAMMA Investing LLC raised its stake in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in shares of General Electric in the second quarter worth about $34,973,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

NYSE:GE opened at $178.38 on Friday. 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 fifty-two week low of $92.58 and a fifty-two week high of $194.80. The company has a 50 day simple moving average of $181.69 and a two-hundred day simple moving average of $170.43. The company has a market capitalization of $193.06 billion, a PE ratio of 31.35, a P/E/G ratio of 1.81 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. Research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

GE has been the topic of several research reports. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Company 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.