General Electric (NYSE:GE) Shares Sold by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC trimmed its holdings in General Electric (NYSE:GE) by 12.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,185 shares of the conglomerate’s stock after selling 302 shares during the period. Integrated Investment Consultants LLC’s holdings in General Electric were worth $412,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Newport Trust Company LLC purchased a new stake in shares of General Electric during the second quarter valued at $2,613,332,000. Legal & General Group Plc lifted its stake in General Electric by 5.8% during 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 buying an additional 459,201 shares in the last quarter. Jennison Associates LLC boosted its holdings 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 worth $1,465,598,000 after buying an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of General Electric in the second quarter worth approximately $580,200,000. Finally, Swiss National Bank raised its holdings in shares of General Electric by 0.4% during the third quarter. Swiss National Bank now owns 3,249,062 shares of the conglomerate’s stock valued at $612,708,000 after acquiring an additional 12,200 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.3 %

General Electric stock opened at $181.11 on Friday. General Electric has a one year low of $94.54 and a one year high of $194.80. The company’s fifty day moving average price is $183.22 and its two-hundred day moving average price is $171.10. The company has a market capitalization of $196.01 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.75 and a beta of 1.19. 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 (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 business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. On average, analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. 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.com, General Electric has an average rating of “Moderate Buy” and an average target price of $200.93.

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.