1,200 Shares in General Electric (NYSE:GE) Acquired by Sassicaia Capital Advisers LLC

Sassicaia Capital Advisers LLC acquired a new stake in General Electric (NYSE:GE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,200 shares of the conglomerate’s stock, valued at approximately $226,000. General Electric accounts for about 0.7% of Sassicaia Capital Advisers LLC’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its stake in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the last quarter. Mackenzie Financial Corp grew its holdings in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric in the 2nd quarter valued at $1,569,000. GAMMA Investing LLC lifted its stake in General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in General Electric during the 2nd quarter valued at $34,973,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GE shares. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their price objective 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. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

Shares of GE stock opened at $176.93 on Friday. The firm’s 50 day moving average is $182.29 and its 200 day moving average is $170.63. The stock has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results 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 return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by company 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.