Old Port Advisors Buys 78 Shares of General Electric (NYSE:GE)

Old Port Advisors raised its stake in shares of General Electric (NYSE:GE) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,609 shares of the conglomerate’s stock after buying an additional 78 shares during the period. Old Port Advisors’ holdings in General Electric were worth $936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newport Trust Company LLC bought a new position in General Electric in the 2nd quarter worth $2,613,332,000. Jennison Associates LLC raised its stake in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter valued at approximately $580,200,000. International Assets Investment Management LLC boosted its holdings in General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in shares of General Electric by 18,693.9% in the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after acquiring an additional 1,605,434 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GE. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’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 transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % 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 Stock Up 1.7 %

Shares of NYSE GE traded up $2.87 during midday trading on Thursday, reaching $169.66. 1,094,115 shares of the company’s stock traded hands, compared to its average volume of 6,084,345. The company has a market cap of $183.62 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a one year low of $98.92 and a one year high of $194.80. 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’s 50 day simple moving average is $174.81 and its 200-day simple moving average is $173.03.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict 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 will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.