General Electric (NYSE:GE) Shares Sold by Meritage Group LP

Meritage Group LP cut its holdings in General Electric (NYSE:GE) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,729,842 shares of the conglomerate’s stock after selling 932,893 shares during the period. General Electric comprises approximately 7.6% of Meritage Group LP’s holdings, making the stock its 4th biggest position. Meritage Group LP owned 0.16% of General Electric worth $326,214,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GE. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter worth about $28,000. Finally, Studio Investment Management LLC grew its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

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 value of $1,267,910.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, 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 research note on Wednesday, October 23rd. Two 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 an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of GE opened at $175.58 on Monday. The business has a 50-day moving average of $182.10 and a 200-day moving average of $172.43. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. The company has a market capitalization of $190.03 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. 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 (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, equities research analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.