Bedell Frazier Investment Counselling LLC Acquires Shares of 1,106 General Electric (NYSE:GE)

Bedell Frazier Investment Counselling LLC acquired a new stake in General Electric (NYSE:GE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,106 shares of the conglomerate’s stock, valued at approximately $209,000.

Other hedge funds also recently bought and sold shares of the company. Independent Advisor Alliance increased its holdings in shares of General Electric by 23.2% during the 3rd quarter. Independent Advisor Alliance now owns 22,943 shares of the conglomerate’s stock worth $4,326,000 after buying an additional 4,320 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of General Electric by 51.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 25,743 shares of the conglomerate’s stock worth $4,853,000 after buying an additional 8,718 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $618,000. Douglass Winthrop Advisors LLC increased its holdings in shares of General Electric by 50.1% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 4,989 shares of the conglomerate’s stock worth $941,000 after buying an additional 1,665 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of General Electric by 14.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 136,532 shares of the conglomerate’s stock worth $25,748,000 after buying an additional 17,201 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 1.4 %

Shares of NYSE:GE opened at $181.15 on Monday. The stock has a market capitalization of $196.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.78 and a beta of 1.19. General Electric has a 1-year low of $94.54 and a 1-year 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 company has a 50 day moving average price of $183.22 and a 200 day moving average price of $171.13.

General Electric (NYSE:GE) last released 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 net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays raised their price target 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. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their target price 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. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents 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.

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.