Nomura Asset Management Co. Ltd. Increases Stock Holdings in General Electric (NYSE:GE)

Nomura Asset Management Co. Ltd. raised its position in General Electric (NYSE:GE) by 8.2% in the 3rd quarter, Holdings Channel reports. The fund owned 381,414 shares of the conglomerate’s stock after purchasing an additional 28,930 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Electric were worth $71,927,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Studio Investment Management LLC grew its stake in shares of General Electric by 97.5% during the second 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. Toth Financial Advisory Corp purchased a new position in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the 3rd quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at approximately $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GE shares. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

GE opened at $175.58 on Monday. The stock has a market cap of $190.03 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. 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 twelve month low of $94.54 and a twelve month high of $194.80. The business’s 50 day moving average is $182.10 and its 200-day moving average is $172.43.

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 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 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 firm posted $0.82 EPS. General Electric’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.64%. General Electric’s payout ratio is 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, 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 currently owned by insiders.

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.