Otter Creek Advisors LLC Sells 4,966 Shares of General Electric (NYSE:GE)

Otter Creek Advisors LLC lowered its stake in General Electric (NYSE:GE) by 16.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,734 shares of the conglomerate’s stock after selling 4,966 shares during the period. General Electric accounts for about 3.0% of Otter Creek Advisors LLC’s holdings, making the stock its 18th biggest holding. Otter Creek Advisors LLC’s holdings in General Electric were worth $4,664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the third quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth $28,000. Institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.5 %

GE opened at $178.87 on Friday. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a 50-day simple moving average of $183.17 and a 200 day simple moving average of $171.01. 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 stock has a market capitalization of $193.59 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on GE shares. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.