General Electric (NYSE:GE) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in General Electric (NYSE:GE) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 292,687 shares of the conglomerate’s stock after selling 10,029 shares during the quarter. MetLife Investment Management LLC’s holdings in General Electric were worth $55,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC acquired a new position in General Electric in the second quarter worth approximately $2,613,332,000. Jennison Associates LLC boosted its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the 2nd quarter worth $580,200,000. International Assets Investment Management LLC raised its position in shares of General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. lifted its holdings in shares of General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays increased 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Down 0.9 %

General Electric stock traded down $1.69 during mid-day trading on Wednesday, hitting $182.91. 132,770 shares of the company’s stock were exchanged, compared to its average volume of 6,160,830. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The stock has a 50 day moving average of $183.29 and a two-hundred day moving average of $171.37. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $197.96 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last announced its 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s 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 completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate 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.