Toronto Dominion Bank Lowers Stock Holdings in General Electric (NYSE:GE)

Toronto Dominion Bank reduced its holdings in General Electric (NYSE:GE) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 537,973 shares of the conglomerate’s stock after selling 31,867 shares during the period. Toronto Dominion Bank’s holdings in General Electric were worth $101,451,000 at the end of the most recent quarter.

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

General Electric Trading Down 0.0 %

NYSE:GE opened at $171.29 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $95.71 and a 52-week high of $194.80. The stock’s 50 day moving average price is $181.76 and its 200 day moving average price is $172.48. The company has a market capitalization of $185.39 billion, a PE ratio of 30.10, a P/E/G ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. On average, research analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared 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 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Ratings Changes

Several research firms have recently weighed in on GE. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction 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 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 corporate insiders.

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.