General Electric (NYSE:GE) Position Boosted by FWG Holdings LLC

FWG Holdings LLC boosted its holdings in General Electric (NYSE:GE) by 16.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,596 shares of the conglomerate’s stock after acquiring an additional 229 shares during the quarter. FWG Holdings LLC’s holdings in General Electric were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Newport Trust Company LLC bought a new stake in shares of General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors increased its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors raised its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric in the second quarter valued at approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the 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 owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Up 0.4 %

Shares of GE stock opened at $177.58 on Tuesday. The stock has a market cap of $192.19 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a fifty day moving average price of $182.54 and a 200 day moving average price of $170.81. General Electric has a one year low of $94.54 and a one year high of $194.80.

General Electric (NYSE:GE) last issued its 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 return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the firm posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

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

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.