General Electric (NYSE:GE) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its holdings in shares of General Electric (NYSE:GE) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 842,223 shares of the conglomerate’s stock after acquiring an additional 42,490 shares during the quarter. LPL Financial LLC owned about 0.08% of General Electric worth $158,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cypress Capital Group lifted its holdings in shares of General Electric by 3.5% in the 3rd quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock worth $351,000 after acquiring an additional 63 shares during the last quarter. Cornerstone Advisors LLC raised its position in General Electric by 1.6% in the third quarter. Cornerstone Advisors LLC now owns 50,500 shares of the conglomerate’s stock valued at $9,523,000 after purchasing an additional 800 shares during the period. Citizens Financial Group Inc. RI lifted its stake in General Electric by 20.1% during the third quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock worth $1,628,000 after purchasing an additional 1,445 shares in the last quarter. Payden & Rygel boosted its position in shares of General Electric by 0.5% during the third quarter. Payden & Rygel now owns 64,200 shares of the conglomerate’s stock worth $12,107,000 after buying an additional 300 shares during the period. Finally, Moran Wealth Management LLC acquired a new stake in shares of General Electric in the third quarter valued at $243,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

General Electric Stock Up 1.3 %

GE 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 has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market capitalization of $196.01 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The business’s 50-day simple moving average is $183.22 and its 200-day simple moving average is $171.10.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GE shares. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.