General Electric (NYSE:GE) Shares Sold by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC cut its stake in shares of General Electric (NYSE:GE) by 10.8% during the third quarter, HoldingsChannel.com reports. The firm owned 18,084 shares of the conglomerate’s stock after selling 2,198 shares during the period. General Electric accounts for about 2.4% of Cladis Investment Advisory LLC’s portfolio, making the stock its 6th largest position. Cladis Investment Advisory LLC’s holdings in General Electric were worth $3,410,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Newport Trust Company LLC acquired a new stake in General Electric in the second quarter valued at $2,613,332,000. Legal & General Group Plc grew its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the last quarter. Jennison Associates LLC grew its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after acquiring an additional 413,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GE. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price 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. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Up 0.9 %

NYSE GE opened at $182.16 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a 50-day simple moving average of $183.01 and a 200-day simple moving average of $171.80. General Electric has a one year low of $94.54 and a one year high of $194.80. The firm has a market capitalization of $197.15 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.79 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 during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 4.24 earnings per share for the current 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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.