Meridian Management Co. Grows Holdings in General Electric (NYSE:GE)

Meridian Management Co. grew its holdings in General Electric (NYSE:GE) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,153 shares of the conglomerate’s stock after purchasing an additional 61 shares during the period. Meridian Management Co.’s holdings in General Electric were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Verus Capital Partners LLC purchased a new stake in General Electric in the first quarter worth $251,000. Avantax Advisory Services Inc. increased its stake in shares of General Electric by 4.2% during the first quarter. Avantax Advisory Services Inc. now owns 22,386 shares of the conglomerate’s stock valued at $3,929,000 after buying an additional 901 shares during the period. Great Diamond Partners LLC purchased a new position in shares of General Electric during the first quarter valued at $251,000. Bleakley Financial Group LLC increased its stake in shares of General Electric by 8.6% during the first quarter. Bleakley Financial Group LLC now owns 28,463 shares of the conglomerate’s stock valued at $4,996,000 after buying an additional 2,260 shares during the period. Finally, Cozad Asset Management Inc. purchased a new position in shares of General Electric during the first quarter valued at $204,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $184.62 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $199.81 billion, a PE ratio of 32.45, a P/E/G ratio of 1.82 and a beta of 1.19. The business has a 50-day simple moving average of $180.98 and a two-hundred day simple moving average of $170.19. General Electric has a fifty-two week low of $91.77 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on GE. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat, the company 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 General Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.