Shoker Investment Counsel Inc. Acquires New Shares in General Electric (NYSE:GE)

Shoker Investment Counsel Inc. acquired a new position in shares of General Electric (NYSE:GE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,272 shares of the conglomerate’s stock, valued at approximately $240,000.

Other large investors have also added to or reduced their stakes in the company. SpiderRock Advisors LLC increased its holdings in General Electric by 4.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 9,932 shares of the conglomerate’s stock worth $1,873,000 after acquiring an additional 448 shares during the period. Pragma Gestao DE Patrimonio Ltd. bought a new stake in General Electric during the third quarter valued at approximately $9,429,000. CWA Asset Management Group LLC bought a new stake in General Electric during the third quarter valued at approximately $798,000. Leavell Investment Management Inc. increased its holdings in shares of General Electric by 70.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 8,469 shares of the conglomerate’s stock worth $1,599,000 after buying an additional 3,512 shares during the last quarter. Finally, Hollencrest Capital Management raised its position in shares of General Electric by 4.0% during the 3rd quarter. Hollencrest Capital Management now owns 10,419 shares of the conglomerate’s stock valued at $1,965,000 after buying an additional 403 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Royal Bank of Canada cut their target price 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. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 3.4 %

NYSE:GE opened at $184.92 on Friday. General Electric has a 12 month low of $90.34 and a 12 month high of $194.80. 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 50-day moving average price of $180.78 and a 200-day moving average price of $169.90. The stock has a market cap of $200.13 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. Equities analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.