Pacer Advisors Inc. Has $19.18 Million Position in General Electric (NYSE:GE)

Pacer Advisors Inc. lessened its position in General Electric (NYSE:GE) by 11.2% during the third quarter, Holdings Channel reports. The institutional investor owned 101,714 shares of the conglomerate’s stock after selling 12,816 shares during the quarter. Pacer Advisors Inc.’s holdings in General Electric were worth $19,181,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Newport Trust Company LLC acquired a new position in General Electric during the second quarter worth $2,613,332,000. Legal & General Group Plc increased its position in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the last quarter. Jennison Associates LLC increased its position in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after purchasing an additional 457,038 shares during the last quarter. Finally, Swiss National Bank grew its stake in General Electric by 0.4% in the third quarter. Swiss National Bank now owns 3,249,062 shares of the conglomerate’s stock valued at $612,708,000 after purchasing an additional 12,200 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $181.11 on Friday. 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 has a market cap of $196.01 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The firm’s 50-day simple moving average is $183.22 and its 200 day simple moving average is $171.10.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

GE has been the topic of a number of analyst reports. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America boosted their price objective 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. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents 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 owned by insiders.

General Electric Company 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.