General Electric (NYSE:GE) Shares Acquired by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lifted its position in shares of General Electric (NYSE:GE) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,247 shares of the conglomerate’s stock after acquiring an additional 775 shares during the quarter. Chartwell Investment Partners LLC’s holdings in General Electric were worth $3,441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors grew its position in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new position in General Electric during the second quarter worth approximately $2,613,332,000. Capital World Investors raised its stake in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc raised its stake in shares of General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% in 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 during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GE. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target 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, Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

NYSE GE opened at $182.64 on Wednesday. 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 company has a fifty day simple moving average of $180.98 and a 200 day simple moving average of $170.19. The company has a market cap of $197.67 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.82 and a beta of 1.19. General Electric has a 1 year low of $91.77 and a 1 year high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) 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 business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

About General Electric

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.