Graypoint LLC Purchases 634 Shares of General Electric (NYSE:GE)

Graypoint LLC raised its position in General Electric (NYSE:GE) by 8.2% during the third quarter, Holdings Channel reports. The institutional investor owned 8,342 shares of the conglomerate’s stock after buying an additional 634 shares during the quarter. Graypoint LLC’s holdings in General Electric were worth $1,573,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GE. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

GE opened at $178.85 on Friday. The business’s 50-day moving average price is $180.47 and its two-hundred day moving average price is $169.59. General Electric has a 1 year low of $89.59 and a 1 year high of $194.80. The company has a market capitalization of $193.57 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 1.70 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 announced 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. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. Equities analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company 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.