SeaTown Holdings Pte. Ltd. Increases Position in General Electric (NYSE:GE)

SeaTown Holdings Pte. Ltd. increased its stake in General Electric (NYSE:GE) by 61.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,208 shares of the conglomerate’s stock after buying an additional 21,500 shares during the period. General Electric accounts for 6.4% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 9th largest position. SeaTown Holdings Pte. Ltd.’s holdings in General Electric were worth $9,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GE. Jennison Associates LLC lifted its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC lifted its position in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Janus Henderson Group PLC boosted its stake in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in General Electric by 280.8% during the second quarter. Ensign Peak Advisors Inc now owns 1,485,097 shares of the conglomerate’s stock worth $236,086,000 after acquiring an additional 1,095,093 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in General Electric by 3,827.4% in the second quarter. 1832 Asset Management L.P. now owns 1,100,463 shares of the conglomerate’s stock worth $174,941,000 after purchasing an additional 1,072,443 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.7 %

Shares of GE stock opened at $182.83 on Friday. 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 $101.16 and a 12-month high of $194.80. The stock has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. The firm’s 50 day moving average is $174.33 and its 200 day moving average is $174.00.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts expect that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GE shares. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.47.

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.