Chartwell Investment Partners LLC Acquires 775 Shares of General Electric (NYSE:GE)

Chartwell Investment Partners LLC grew its holdings in General Electric (NYSE:GE) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,247 shares of the conglomerate’s stock after purchasing an additional 775 shares during the quarter. Chartwell Investment Partners LLC’s holdings in General Electric were worth $3,441,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter worth $31,000. Finally, Costello Asset Management INC boosted its position in General Electric by 92.0% during the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $182.64 on Wednesday. General Electric has a fifty-two week low of $91.77 and a fifty-two week high of $194.80. The stock has a market cap of $197.67 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.82 and a beta of 1.19. 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 firm’s 50-day simple moving average is $180.98 and its 200 day simple moving average is $170.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. As a group, research analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.93.

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.