Atom Investors LP Buys 5,759 Shares of General Electric (NYSE:GE)

Atom Investors LP raised its stake in General Electric (NYSE:GE) by 103.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,340 shares of the conglomerate’s stock after acquiring an additional 5,759 shares during the period. Atom Investors LP’s holdings in General Electric were worth $2,138,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC raised its position in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of General Electric in the 2nd quarter valued at $1,569,000. Senator Investment Group LP acquired a new position in shares of General Electric during the 2nd quarter worth $34,973,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of General Electric by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 433,111 shares of the conglomerate’s stock worth $81,676,000 after buying an additional 3,430 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 1.0 %

Shares of NYSE:GE opened at $180.41 on Tuesday. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. 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 business’s 50-day moving average is $183.01 and its 200-day moving average is $171.80. The company has a market capitalization of $195.25 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.79 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 last year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that General Electric will post 4.24 earnings per share 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 issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric 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 the business’s stock in a transaction on 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 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 transaction 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 the company’s stock in a transaction on 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company 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.