General Electric (NYSE:GE) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its position in shares of General Electric (NYSE:GE) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,520 shares of the conglomerate’s stock after selling 142 shares during the period. Patten & Patten Inc. TN’s holdings in General Electric were worth $2,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GE. Studio Investment Management LLC boosted its stake in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the second quarter worth $31,000. Finally, Costello Asset Management INC raised its stake in shares of General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 80 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GE. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Wells Fargo & Company increased their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

NYSE GE opened at $184.81 on Monday. 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 business’s 50 day moving average is $180.78 and its two-hundred day moving average is $169.95. The stock has a market capitalization of $200.02 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.82 and a beta of 1.19. General Electric has a 12-month low of $90.34 and a 12-month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

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.