General Electric (NYSE:GE) Shares Bought by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of General Electric (NYSE:GE) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,299 shares of the conglomerate’s stock after purchasing an additional 60 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in General Electric were worth $1,188,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Studio Investment Management LLC increased its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter worth approximately $31,000. Finally, Costello Asset Management INC increased its position in shares of General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock traded up $5.96 during midday trading on Friday, hitting $184.81. The company had a trading volume of 4,676,543 shares, compared to its average volume of 4,843,334. The stock has a market cap of $200.02 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50 day simple moving average is $180.78 and its 200 day simple moving average is $169.90. General Electric has a 52-week low of $90.34 and a 52-week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company posted $0.82 EPS. General Electric’s revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus 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.