Millburn Ridgefield Corp Grows Stock Holdings in General Electric (NYSE:GE)

Millburn Ridgefield Corp grew its holdings in shares of General Electric (NYSE:GE) by 296.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 491 shares of the conglomerate’s stock after purchasing an additional 367 shares during the period. Millburn Ridgefield Corp’s holdings in General Electric were worth $93,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Lantz Financial LLC raised its holdings in General Electric by 1.9% in the 2nd quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after acquiring an additional 70 shares during the last quarter. CX Institutional raised its holdings in General Electric by 19.1% in the 2nd quarter. CX Institutional now owns 8,414 shares of the conglomerate’s stock worth $1,338,000 after acquiring an additional 1,351 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in General Electric by 77.1% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 11,207 shares of the conglomerate’s stock worth $1,782,000 after acquiring an additional 4,880 shares during the last quarter. BDF Gestion purchased a new position in General Electric in the 2nd quarter worth approximately $6,052,000. Finally, Orrstown Financial Services Inc. raised its holdings in General Electric by 5.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,545 shares of the conglomerate’s stock worth $246,000 after acquiring an additional 75 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 1.0 %

Shares of General Electric stock opened at $182.61 on Thursday. The company has a fifty day moving average of $182.53 and a 200 day moving average of $172.15. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a market capitalization of $197.63 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. On average, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GE shares. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted their target price 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. 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 research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. 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.