General Electric (NYSE:GE) Position Boosted by Larson Financial Group LLC

Larson Financial Group LLC boosted its position in General Electric (NYSE:GE) by 5.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,232 shares of the conglomerate’s stock after buying an additional 1,525 shares during the period. Larson Financial Group LLC’s holdings in General Electric were worth $5,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Newport Trust Company LLC bought a new stake in shares of General Electric during the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC boosted its position in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA bought a new position in General Electric during the 2nd quarter worth $580,200,000. International Assets Investment Management LLC increased its position in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. lifted its stake in General Electric by 18,693.9% in the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after buying an additional 1,605,434 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GE. UBS Group increased 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. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’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 transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $2,407,036.57. The trade was 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 corporate insiders.

General Electric Stock Performance

NYSE:GE opened at $181.15 on Friday. The company has a 50-day moving average of $183.22 and a 200-day moving average of $171.12. The firm has a market cap of $196.06 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. 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 twelve month low of $94.54 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. Analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

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.