Simon Quick Advisors LLC Raises Position in General Electric (NYSE:GE)

Simon Quick Advisors LLC lifted its stake in General Electric (NYSE:GE) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,806 shares of the conglomerate’s stock after buying an additional 81 shares during the period. Simon Quick Advisors LLC’s holdings in General Electric were worth $968,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GE. State Street Corp raised its holdings in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC increased its stake in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Legal & General Group Plc increased its stake in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the period. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after purchasing an additional 413,388 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Up 0.4 %

Shares of General Electric stock opened at $188.20 on Thursday. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80. The firm’s 50 day moving average price is $174.39 and its 200-day moving average price is $174.49. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $203.69 billion, a P/E ratio of 33.08, a PEG ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE) last issued 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. The business had revenue of $9.84 billion for 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, sell-side analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, 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 company insiders.

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.