General Electric (NYSE:GE) Stock Holdings Lifted by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC raised its position in shares of General Electric (NYSE:GE) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,733 shares of the conglomerate’s stock after purchasing an additional 367 shares during the period. TrinityPoint Wealth LLC’s holdings in General Electric were worth $1,647,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GE. Newport Trust Company LLC acquired a new position in shares of General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors boosted its holdings in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Capital International Investors increased its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric in the second quarter worth about $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup lifted their price target 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 upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of GE stock opened at $176.93 on Monday. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The company has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. The stock has a 50 day moving average of $182.29 and a two-hundred day moving average of $170.71. 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 (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 earnings per share. As a group, equities analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, 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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

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.