Freemont Management S.A. Grows Stock Holdings in General Electric (NYSE:GE)

Freemont Management S.A. lifted its stake in General Electric (NYSE:GE) by 37.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,100 shares of the conglomerate’s stock after purchasing an additional 1,673 shares during the quarter. Freemont Management S.A.’s holdings in General Electric were worth $1,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Newport Trust Company LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Capital International Investors lifted its holdings in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of General Electric during the second quarter valued at $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GE shares. Sanford C. Bernstein upped 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price target 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

Shares of General Electric stock opened at $183.54 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $92.46 and a 12 month high of $194.80. The stock has a 50 day moving average of $181.35 and a 200 day moving average of $170.33. The firm has a market cap of $198.64 billion, a PE ratio of 32.26, a PEG ratio of 1.80 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, 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 firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

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

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.