Second Line Capital LLC Purchases New Stake in General Electric (NYSE:GE)

Second Line Capital LLC acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,386 shares of the conglomerate’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TCW Group Inc. boosted its holdings in shares of General Electric by 44.3% during the 3rd quarter. TCW Group Inc. now owns 994,524 shares of the conglomerate’s stock worth $187,547,000 after buying an additional 305,336 shares during the period. Soltis Investment Advisors LLC lifted its holdings in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in General Electric by 38.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 20,563 shares of the conglomerate’s stock worth $3,878,000 after purchasing an additional 5,755 shares during the last quarter. Virtue Capital Management LLC increased its position in General Electric by 37.3% during the 3rd quarter. Virtue Capital Management LLC now owns 8,245 shares of the conglomerate’s stock worth $1,555,000 after buying an additional 2,240 shares during the period. Finally, Fortem Financial Group LLC lifted its holdings in shares of General Electric by 3.1% during the third quarter. Fortem Financial Group LLC now owns 3,312 shares of the conglomerate’s stock worth $625,000 after buying an additional 100 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America upped their price target 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. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two research 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, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Buying and Selling

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 transaction 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 trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % 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.

General Electric Stock Down 0.0 %

Shares of NYSE GE opened at $171.29 on Wednesday. The company has a market cap of $185.39 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.69 and a beta of 1.17. 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 12 month low of $95.71 and a 12 month high of $194.80. The stock has a 50-day moving average price of $181.76 and a two-hundred day moving average price of $172.48.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.