LPL Financial LLC Boosts Stock Holdings in General Electric (NYSE:GE)

LPL Financial LLC raised its holdings in General Electric (NYSE:GE) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 842,223 shares of the conglomerate’s stock after purchasing an additional 42,490 shares during the quarter. LPL Financial LLC’s holdings in General Electric were worth $158,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter valued at about $2,613,332,000. Jennison Associates LLC increased its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric during the 2nd quarter valued at approximately $580,200,000. International Assets Investment Management LLC boosted its stake in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in shares of General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after acquiring an additional 1,605,434 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GE shares. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric 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 in the company, 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. 0.66% of the stock is currently owned by company insiders.

General Electric Trading Up 1.3 %

Shares of GE opened at $181.11 on Friday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a market capitalization of $196.01 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The stock has a fifty day moving average of $183.22 and a two-hundred day moving average of $171.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $9.02 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

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 was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s payout ratio is 19.68%.

General Electric 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.