DRW Securities LLC Purchases 11,631 Shares of General Electric (NYSE:GE)

DRW Securities LLC raised its position in General Electric (NYSE:GE) by 480.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,054 shares of the conglomerate’s stock after acquiring an additional 11,631 shares during the period. DRW Securities LLC’s holdings in General Electric were worth $2,586,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GE. Catalyst Capital Advisors LLC boosted its holdings in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the last quarter. Mackenzie Financial Corp lifted its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in shares of General Electric during the 2nd quarter worth about $1,569,000. GAMMA Investing LLC raised its holdings 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 acquiring an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP acquired a new position in General Electric during the second quarter valued at approximately $34,973,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

Shares of General Electric stock opened at $181.15 on Monday. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The company has a 50 day moving average of $183.22 and a 200-day moving average of $171.13. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $196.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.02 billion. During the same period in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.