Second Line Capital LLC Purchases Shares of 1,386 General Electric (NYSE:GE)

Second Line Capital LLC acquired a new stake in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,386 shares of the conglomerate’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TCW Group Inc. grew its stake in General Electric by 44.3% during the third quarter. TCW Group Inc. now owns 994,524 shares of the conglomerate’s stock worth $187,547,000 after buying an additional 305,336 shares during the last quarter. Soltis Investment Advisors LLC boosted its holdings in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. TD Private Client Wealth LLC grew its position in General Electric by 38.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 20,563 shares of the conglomerate’s stock worth $3,878,000 after acquiring an additional 5,755 shares during the last quarter. Virtue Capital Management LLC increased its holdings in General Electric by 37.3% during the 3rd quarter. Virtue Capital Management LLC now owns 8,245 shares of the conglomerate’s stock valued at $1,555,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Fortem Financial Group LLC raised its position in General Electric by 3.1% in the 3rd quarter. Fortem Financial Group LLC now owns 3,312 shares of the conglomerate’s stock valued at $625,000 after purchasing an additional 100 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $171.29 on Wednesday. The stock has a market cap of $185.39 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The stock has a 50-day moving average of $181.76 and a 200-day moving average of $172.48. 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 has a one year low of $95.71 and a one year high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GE. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction 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. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.