Colonial River Investments LLC Makes New $491,000 Investment in General Electric (NYSE:GE)

Colonial River Investments LLC acquired a new stake in shares of General Electric (NYSE:GE) in the third quarter, Holdings Channel.com reports. The firm acquired 2,605 shares of the conglomerate’s stock, valued at approximately $491,000.

Several other institutional investors and hedge funds have also modified their holdings of GE. Newport Trust Company LLC acquired a new stake in General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors lifted its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors boosted its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in General Electric during the 2nd quarter valued at about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock 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 company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

General Electric Stock Performance

General Electric stock opened at $184.81 on Friday. 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 12-month low of $90.34 and a 12-month high of $194.80. The firm’s fifty day moving average price is $180.78 and its 200 day moving average price is $169.90. The company has a market capitalization of $200.02 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 1.78 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 earnings per share for the quarter, topping 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 company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

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.