GAMMA Investing LLC Purchases 3,442 Shares of General Electric (NYSE:GE)

GAMMA Investing LLC increased its position in shares of General Electric (NYSE:GE) by 25.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,999 shares of the conglomerate’s stock after purchasing an additional 3,442 shares during the period. GAMMA Investing LLC’s holdings in General Electric were worth $2,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC raised its position in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares during the period. USA Financial Formulas grew its stake in General Electric by 24,042.9% during the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after acquiring an additional 10,098 shares in the last quarter. Grandfield & Dodd LLC grew its stake in General Electric by 9.3% during the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares in the last quarter. Rathbones Group PLC grew its stake in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after acquiring an additional 5,997 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after acquiring an additional 318,245 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company insiders.

General Electric Trading Down 5.6 %

Shares of GE stock traded down $9.47 during trading hours on Friday, reaching $160.28. 8,210,692 shares of the stock were exchanged, compared to its average volume of 6,157,757. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $162.83 and its 200-day moving average price is $158.04. The firm has a market capitalization of $175.44 billion, a price-to-earnings ratio of 52.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.71.

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.