Reynders McVeigh Capital Management LLC Purchases 317 Shares of General Electric (NYSE:GE)

Reynders McVeigh Capital Management LLC boosted its position in General Electric (NYSE:GE) by 23.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,681 shares of the conglomerate’s stock after acquiring an additional 317 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in General Electric were worth $317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter valued at approximately $28,000. Institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on 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, Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 1.0 %

Shares of GE stock opened at $182.61 on Thursday. 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 business has a 50-day moving average price of $182.53 and a two-hundred day moving average price of $172.15. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The firm has a market cap of $197.63 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17.

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

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio 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.