Canopy Partners LLC Has $362,000 Stock Position in General Electric (NYSE:GE)

Canopy Partners LLC boosted its stake in General Electric (NYSE:GE) by 59.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,918 shares of the conglomerate’s stock after purchasing an additional 714 shares during the quarter. Canopy Partners LLC’s holdings in General Electric were worth $362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric during the third quarter worth $28,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GE. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Up 1.3 %

Shares of NYSE GE opened at $181.11 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 firm has a market cap of $196.01 billion, a PE ratio of 31.83, a P/E/G ratio of 1.76 and a beta of 1.19. The company’s fifty day simple moving average is $183.22 and its 200 day simple moving average is $171.10. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid 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 yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

General Electric Company 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.