Seelaus Asset Management LLC Boosts Stock Position in General Electric (NYSE:GE)

Seelaus Asset Management LLC increased its holdings in General Electric (NYSE:GE) by 36.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,683 shares of the conglomerate’s stock after buying an additional 1,250 shares during the period. General Electric accounts for approximately 0.8% of Seelaus Asset Management LLC’s portfolio, making the stock its 28th largest position. Seelaus Asset Management LLC’s holdings in General Electric were worth $883,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors boosted its stake in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors increased its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric in the 2nd quarter worth about $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.8 %

Shares of General Electric stock opened at $176.89 on Friday. 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 company has a market cap of $191.45 billion, a P/E ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. The firm’s 50 day moving average price is $182.29 and its 200-day moving average price is $170.57. General Electric has a 52-week low of $93.05 and a 52-week high of $194.80.

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 return on equity of 18.93% and a net margin of 11.48%. The business 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 firm posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GE shares. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.