Douglass Winthrop Advisors LLC Acquires 1,665 Shares of General Electric (NYSE:GE)

Douglass Winthrop Advisors LLC increased its holdings in General Electric (NYSE:GE) by 50.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,989 shares of the conglomerate’s stock after acquiring an additional 1,665 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in General Electric were worth $941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its position in General Electric by 14.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 136,532 shares of the conglomerate’s stock valued at $25,748,000 after acquiring an additional 17,201 shares in the last quarter. Marco Investment Management LLC bought a new position in shares of General Electric in the 3rd quarter worth approximately $220,000. Pekin Hardy Strauss Inc. lifted its stake in shares of General Electric by 14.7% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 5,847 shares of the conglomerate’s stock valued at $1,103,000 after purchasing an additional 750 shares during the period. Summit Trail Advisors LLC boosted its position in shares of General Electric by 6.4% during the third quarter. Summit Trail Advisors LLC now owns 13,771 shares of the conglomerate’s stock valued at $2,601,000 after purchasing an additional 824 shares in the last quarter. Finally, Cahill Financial Advisors Inc. grew its stake in General Electric by 8.8% in the third quarter. Cahill Financial Advisors Inc. now owns 1,440 shares of the conglomerate’s stock worth $272,000 after purchasing an additional 116 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.5 %

Shares of GE stock opened at $180.21 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The stock has a market capitalization of $195.04 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.78 and a beta of 1.19. The firm’s 50 day moving average is $183.20 and its 200 day moving average is $171.22.

General Electric (NYSE:GE) last issued 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. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. Research analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $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.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.