LMR Partners LLP Grows Stock Holdings in General Electric (NYSE:GE)

LMR Partners LLP increased its holdings in shares of General Electric (NYSE:GE) by 36.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,238 shares of the conglomerate’s stock after purchasing an additional 41,594 shares during the period. LMR Partners LLP’s holdings in General Electric were worth $29,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently 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 2nd 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 period. Toth Financial Advisory Corp acquired a new stake in General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $176.93 on Monday. The stock has a 50 day moving average price of $182.29 and a 200 day moving average price of $170.71. The stock has a market cap of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $93.05 and a one year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.