Cynosure Group LLC Raises Stake in General Electric (NYSE:GE)

Cynosure Group LLC lifted its holdings in shares of General Electric (NYSE:GE) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,370 shares of the conglomerate’s stock after purchasing an additional 9,041 shares during the period. General Electric comprises about 1.9% of Cynosure Group LLC’s investment portfolio, making the stock its 13th biggest position. Cynosure Group LLC’s holdings in General Electric were worth $13,459,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the third quarter worth $28,000. Finally, Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Up 2.4 %

GE opened at $184.60 on Wednesday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $199.79 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The firm’s fifty day moving average is $183.29 and its 200 day moving average is $171.37.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid 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 0.61%. General Electric’s payout ratio is 19.68%.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group upped their price target 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. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price 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.