Groupama Asset Managment Invests $49,000 in General Electric (NYSE:GE)

Groupama Asset Managment bought a new position in General Electric (NYSE:GE) during the 3rd quarter, Holdings Channel.com reports. The firm bought 25,907 shares of the conglomerate’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the third quarter worth $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 lifted its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $171.37 on Tuesday. General Electric has a one year low of $95.71 and a one year high of $194.80. The stock has a 50-day moving average of $181.76 and a 200 day moving average of $172.48. The company has a market capitalization of $185.47 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.73 and a beta of 1.17. 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 released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during 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%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. On average, sell-side analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid 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 dividend yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several brokerages have commented on GE. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.93.

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.