Freemont Management S.A. Raises Stake in General Electric (NYSE:GE)

Freemont Management S.A. increased its stake in General Electric (NYSE:GE) by 37.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,100 shares of the conglomerate’s stock after acquiring an additional 1,673 shares during the quarter. Freemont Management S.A.’s holdings in General Electric were worth $1,150,000 at the end of the most recent quarter.

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

General Electric Price Performance

NYSE:GE opened at $183.54 on Thursday. The company has a 50 day moving average price of $181.35 and a 200-day moving average price of $170.33. General Electric has a 1-year low of $92.46 and a 1-year high of $194.80. The firm has a market cap of $198.64 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 1.80 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 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 firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

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.