Citizens Financial Group Inc. RI Has $1.63 Million Stake in General Electric (NYSE:GE)

Citizens Financial Group Inc. RI raised its holdings in General Electric (NYSE:GE) by 20.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,617 shares of the conglomerate’s stock after buying an additional 1,445 shares during the period. Citizens Financial Group Inc. RI’s holdings in General Electric were worth $1,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tsfg LLC boosted its holdings in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares during the last quarter. Macroview Investment Management LLC lifted its stake in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. Strategic Advisors LLC grew its position in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Transactions at General Electric

In other news, 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GE. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays upped their price objective 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. Finally, UBS Group raised their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

GE opened at $181.11 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 52-week low of $94.54 and a 52-week high of $194.80. The firm has a market cap of $196.01 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The business’s fifty day moving average is $183.22 and its 200-day moving average is $171.10.

General Electric (NYSE:GE) last announced its quarterly earnings data 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. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. Sell-side analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 0.62%. General Electric’s payout ratio is 19.68%.

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.