General Electric (NYSE:GE) SVP Riccardo Procacci Sells 7,000 Shares

General Electric (NYSE:GE) SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

General Electric Stock Down 1.1 %

Shares of NYSE GE opened at $178.85 on Friday. General Electric has a 12-month low of $89.59 and a 12-month high of $194.80. The stock has a market cap of $193.57 billion, a PE ratio of 31.43, a P/E/G ratio of 1.70 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 company has a 50-day moving average of $180.47 and a 200 day moving average of $169.59.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. As a group, sell-side analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Hedge Funds Weigh In On General Electric

Several large investors have recently made changes to their positions in GE. Studio Investment Management LLC grew its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the 3rd quarter worth $28,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.93.

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.