General Electric (NYSE:GE) SVP Sells $2,772,409.50 in Stock

General Electric (NYSE:GE) SVP Russell Stokes sold 15,550 shares of the business’s 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 in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

General Electric Trading Up 0.2 %

General Electric stock traded up $0.37 during trading hours on Wednesday, reaching $177.93. The company had a trading volume of 2,453,230 shares, compared to its average volume of 6,198,218. 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 company has a 50-day moving average price of $182.75 and a 200 day moving average price of $170.91. The firm has a market cap of $192.57 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) 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 firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. lifted its stake in shares of General Electric by 6.0% in the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the conglomerate’s stock valued at $235,000 after purchasing an additional 70 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of General Electric in the 3rd quarter worth $3,400,000. Second Line Capital LLC acquired a new stake in General Electric during the 3rd quarter worth about $262,000. TCW Group Inc. lifted its position in General Electric by 44.3% during the 3rd quarter. TCW Group Inc. now owns 994,524 shares of the conglomerate’s stock worth $187,547,000 after acquiring an additional 305,336 shares during the period. Finally, Soltis Investment Advisors LLC lifted its holdings in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the period. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GE. Citigroup lifted 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. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group upped 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 price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target 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.