1,114 Shares in General Electric (NYSE:GE) Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC acquired a new stake in General Electric (NYSE:GE) in the third quarter, HoldingsChannel reports. The institutional investor acquired 1,114 shares of the conglomerate’s stock, valued at approximately $210,000.

Several other large investors also recently modified their holdings of the business. Tsfg LLC raised its stake in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares in the last quarter. Macroview Investment Management LLC raised its stake in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC raised its stake in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares in the last quarter. Allegheny Financial Group LTD raised its stake in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. raised its stake in shares of General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GE shares. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. 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 lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

General Electric stock opened at $184.62 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $91.77 and a 1 year high of $194.80. The company has a market cap of $199.81 billion, a PE ratio of 32.45, a PEG ratio of 1.82 and a beta of 1.19. The company’s 50-day moving average is $180.78 and its two-hundred day moving average is $170.03.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is presently 19.68%.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

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.