Chiron Investment Management LLC Purchases New Position in General Electric (NYSE:GE)

Chiron Investment Management LLC purchased a new stake in General Electric (NYSE:GE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,742 shares of the conglomerate’s stock, valued at approximately $4,289,000. General Electric makes up approximately 1.5% of Chiron Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Lantz Financial LLC boosted its holdings in shares of General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock valued at $591,000 after acquiring an additional 70 shares during the period. NorthCrest Asset Manangement LLC acquired a new stake in shares of General Electric in the second quarter valued at approximately $200,000. Great Valley Advisor Group Inc. boosted its holdings in shares of General Electric by 2.6% in the second quarter. Great Valley Advisor Group Inc. now owns 10,707 shares of the conglomerate’s stock valued at $1,702,000 after acquiring an additional 275 shares during the period. ORG Partners LLC boosted its holdings in shares of General Electric by 554.3% in the second quarter. ORG Partners LLC now owns 1,976 shares of the conglomerate’s stock valued at $314,000 after acquiring an additional 1,674 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of General Electric by 78.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 550 shares of the conglomerate’s stock valued at $87,000 after acquiring an additional 241 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GE shares. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of General Electric 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Down 0.0 %

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. The firm has a market cap of $185.39 billion, a P/E ratio of 30.10, a PEG ratio of 1.69 and a beta of 1.17. General Electric has a 52 week low of $95.71 and a 52 week high of $194.80. The business’s fifty day simple moving average is $181.76 and its 200 day simple moving average is $172.48.

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. 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 analyst estimates of $9.02 billion. During the same period last year, the company earned $0.82 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

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.