General Electric (NYSE:GE) Shares Sold by Otter Creek Advisors LLC

Otter Creek Advisors LLC lowered its stake in shares of General Electric (NYSE:GE) by 16.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,734 shares of the conglomerate’s stock after selling 4,966 shares during the quarter. General Electric makes up approximately 3.0% of Otter Creek Advisors LLC’s holdings, making the stock its 18th largest position. Otter Creek Advisors LLC’s holdings in General Electric were worth $4,664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC raised its stake in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in General Electric in the second quarter worth approximately $1,569,000. GAMMA Investing LLC increased its position in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in General Electric in the 2nd quarter worth approximately $34,973,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays increased 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. Finally, UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 0.5 %

Shares of General Electric stock opened at $178.87 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 stock has a market capitalization of $193.59 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The company has a 50-day simple moving average of $183.17 and a 200 day simple moving average of $171.01.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. Research analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given 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 payout ratio is presently 19.68%.

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.