General Electric (NYSE:GE) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its holdings in General Electric (NYSE:GE) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,203 shares of the conglomerate’s stock after selling 262 shares during the quarter. Financial Counselors Inc.’s holdings in General Electric were worth $6,261,000 at the end of the most recent quarter.

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

General Electric Price Performance

Shares of General Electric stock opened at $180.60 on Friday. The company’s 50-day moving average price is $183.12 and its two-hundred day moving average price is $171.50. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $195.46 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 previous year, the company earned $0.82 EPS. As a group, sell-side analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.