Seelaus Asset Management LLC Purchases 1,250 Shares of General Electric (NYSE:GE)

Seelaus Asset Management LLC increased its position in General Electric (NYSE:GE) by 36.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,683 shares of the conglomerate’s stock after purchasing an additional 1,250 shares during the period. General Electric makes up 0.8% of Seelaus Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Seelaus Asset Management LLC’s holdings in General Electric were worth $883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter worth $27,000. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Finally, Costello Asset Management INC lifted its position in shares of General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $176.89 on Friday. The company’s fifty day moving average price is $182.29 and its 200-day moving average price is $170.57. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $191.45 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. General Electric has a one year low of $93.05 and a one year high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GE. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

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.