NCM Capital Management LLC Buys New Stake in General Electric (NYSE:GE)

NCM Capital Management LLC purchased a new position in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,064 shares of the conglomerate’s stock, valued at approximately $201,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Burney Co. lifted its position in shares of General Electric by 64.0% during the 1st quarter. Burney Co. now owns 3,163 shares of the conglomerate’s stock worth $555,000 after buying an additional 1,234 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of General Electric by 122.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,988 shares of the conglomerate’s stock valued at $807,000 after acquiring an additional 2,747 shares during the period. Trust Co of the South boosted its stake in shares of General Electric by 1.2% in the 2nd quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock valued at $939,000 after purchasing an additional 70 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of General Electric by 15.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,822 shares of the conglomerate’s stock worth $608,000 after purchasing an additional 499 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report 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. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Buying and Selling

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

General Electric Price Performance

GE opened at $182.32 on Friday. The company has a fifty day moving average price of $183.01 and a two-hundred day moving average price of $171.66. The firm has a market capitalization of $197.32 billion, a PE ratio of 32.04, a P/E/G 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. 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 (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. 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.