Atom Investors LP Raises Position in General Electric (NYSE:GE)

Atom Investors LP boosted its position in General Electric (NYSE:GE) by 103.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,340 shares of the conglomerate’s stock after purchasing an additional 5,759 shares during the period. Atom Investors LP’s holdings in General Electric were worth $2,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fulton Bank N.A. lifted its position in shares of General Electric by 16.7% during the 2nd quarter. Fulton Bank N.A. now owns 1,712 shares of the conglomerate’s stock valued at $272,000 after buying an additional 245 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in General Electric by 8.7% during the second quarter. Park Avenue Securities LLC now owns 48,056 shares of the conglomerate’s stock valued at $7,639,000 after purchasing an additional 3,861 shares during the last quarter. Apella Capital LLC boosted its position in General Electric by 4.5% during the second quarter. Apella Capital LLC now owns 3,083 shares of the conglomerate’s stock worth $503,000 after purchasing an additional 134 shares during the period. CWM LLC boosted its position in General Electric by 17.1% during the second quarter. CWM LLC now owns 120,671 shares of the conglomerate’s stock worth $19,183,000 after purchasing an additional 17,608 shares during the period. Finally, Aprio Wealth Management LLC purchased a new position in shares of General Electric in the second quarter worth about $202,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

Shares of General Electric stock opened at $180.41 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $94.54 and a one year high of $194.80. The business’s 50 day simple moving average is $183.01 and its two-hundred day simple moving average is $171.80. The stock has a market capitalization of $195.25 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.19.

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. 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 the consensus estimate of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed 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. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Transactions at General Electric

In related news, 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 value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $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 company insiders.

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.