Empirical Finance LLC Has $7.10 Million Stake in General Electric (NYSE:GE)

Empirical Finance LLC raised its stake in shares of General Electric (NYSE:GE) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,629 shares of the conglomerate’s stock after buying an additional 821 shares during the quarter. Empirical Finance LLC’s holdings in General Electric were worth $7,096,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Catalyst Capital Advisors LLC boosted its stake in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp boosted its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC acquired a new position in General Electric during the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC raised its holdings in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Senator Investment Group LP bought a new stake in shares of General Electric in the second quarter worth $34,973,000. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on GE shares. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 0.5 %

GE opened at $177.51 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a fifty-two week low of $93.05 and a fifty-two week high of $194.80. The company’s 50 day moving average price is $181.69 and its two-hundred day moving average price is $170.43. The firm has a market capitalization of $192.12 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.81 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, 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 this link. 0.66% of the stock is owned by company insiders.

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.