Quantinno Capital Management LP Raises Position in General Electric (NYSE:GE)

Quantinno Capital Management LP grew its holdings in shares of General Electric (NYSE:GE) by 38.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,626 shares of the conglomerate’s stock after purchasing an additional 18,462 shares during the quarter. Quantinno Capital Management LP’s holdings in General Electric were worth $12,564,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GE. Quarry LP raised its position in General Electric by 564.7% in the third quarter. Quarry LP now owns 226 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 192 shares during the period. Royal London Asset Management Ltd. grew its stake in General Electric by 4.0% in the third quarter. Royal London Asset Management Ltd. now owns 476,845 shares of the conglomerate’s stock worth $89,923,000 after purchasing an additional 18,247 shares in the last quarter. Reynders McVeigh Capital Management LLC boosted its stake in General Electric by 23.2% in the third quarter. Reynders McVeigh Capital Management LLC now owns 1,681 shares of the conglomerate’s stock valued at $317,000 after acquiring an additional 317 shares during the period. Millburn Ridgefield Corp boosted its stake in General Electric by 296.0% in the third quarter. Millburn Ridgefield Corp now owns 491 shares of the conglomerate’s stock valued at $93,000 after acquiring an additional 367 shares during the period. Finally, Morse Asset Management Inc raised its holdings in shares of General Electric by 30.8% during the third quarter. Morse Asset Management Inc now owns 18,701 shares of the conglomerate’s stock valued at $3,527,000 after buying an additional 4,405 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was 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 available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value 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. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GE shares. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Up 1.0 %

Shares of General Electric stock opened at $182.61 on Thursday. 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 stock has a market capitalization of $197.63 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80. The company has a 50-day simple moving average of $182.53 and a two-hundred day simple moving average of $172.15.

General Electric (NYSE:GE) last released its quarterly earnings results 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 company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. General Electric’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid 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 currently 19.68%.

General Electric 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.