Townsquare Capital LLC Boosts Stake in General Electric (NYSE:GE)

Townsquare Capital LLC raised its position in General Electric (NYSE:GE) by 84.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,601 shares of the conglomerate’s stock after acquiring an additional 25,433 shares during the quarter. Townsquare Capital LLC’s holdings in General Electric were worth $10,485,000 as of its most recent SEC filing.

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

General Electric Price Performance

Shares of GE opened at $180.61 on Thursday. The stock has a market cap of $195.47 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The stock’s 50-day moving average price is $183.23 and its two-hundred day moving average price is $171.44. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80.

General Electric (NYSE:GE) last issued 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the business posted $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.24 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value 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. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.