Concentric Capital Strategies LP Sells 11,516 Shares of General Electric (NYSE:GE)

Concentric Capital Strategies LP lessened its holdings in General Electric (NYSE:GE) by 29.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,149 shares of the conglomerate’s stock after selling 11,516 shares during the quarter. Concentric Capital Strategies LP’s holdings in General Electric were worth $5,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Studio Investment Management LLC increased its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric during the third quarter valued at $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Trading Up 0.9 %

Shares of GE opened at $182.16 on Monday. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The company has a market capitalization of $197.15 billion, a P/E ratio of 32.01, a P/E/G ratio of 1.79 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. The firm’s 50 day simple moving average is $183.01 and its 200 day simple moving average is $171.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating 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 firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side 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. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group upped their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. 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. Finally, Citigroup lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.