Wrapmanager Inc. Has $1.62 Million Stake in General Electric (NYSE:GE)

Wrapmanager Inc. boosted its position in General Electric (NYSE:GE) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,612 shares of the conglomerate’s stock after buying an additional 1,136 shares during the period. Wrapmanager Inc.’s holdings in General Electric were worth $1,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tsfg LLC increased its position in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC increased its position in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Strategic Advisors LLC increased its position in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $177.58 on Tuesday. The stock has a market capitalization of $192.19 billion, a P/E ratio of 31.21, a PEG ratio of 1.75 and a beta of 1.19. 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 firm’s 50 day moving average is $182.54 and its 200 day moving average is $170.81. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. On average, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company boosted 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. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. UBS Group boosted their price target 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, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

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.