187 Shares in General Electric (NYSE:GE) Acquired by Truvestments Capital LLC

Truvestments Capital LLC acquired a new stake in shares of General Electric (NYSE:GE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 187 shares of the conglomerate’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. bought a new stake in General Electric in the third quarter worth $28,000. Finally, Studio Investment Management LLC raised its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Down 2.2 %

GE opened at $180.61 on Thursday. The company has a market capitalization of $195.47 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 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. The firm’s fifty day moving average price is $183.23 and its two-hundred day moving average price is $171.44. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last issued its 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 net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on GE shares. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently 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.