Centaurus Financial Inc. Purchases 5,330 Shares of General Electric (NYSE:GE)

Centaurus Financial Inc. increased its position in shares of General Electric (NYSE:GE) by 156.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,734 shares of the conglomerate’s stock after buying an additional 5,330 shares during the period. Centaurus Financial Inc.’s holdings in General Electric were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $28,000. Finally, Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% during 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 during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $181.15 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $196.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The company has a 50 day moving average of $183.22 and a 200-day moving average of $171.13. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating 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 quarter last year, the business posted $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date 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 the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. 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 report on Wednesday, October 23rd. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.