Charles Schwab Investment Management Inc. Raises Stock Position in General Electric (NYSE:GE)

Charles Schwab Investment Management Inc. lifted its position in General Electric (NYSE:GE) by 0.1% in the third quarter, Holdings Channel reports. The firm owned 6,530,584 shares of the conglomerate’s stock after buying an additional 7,784 shares during the period. Charles Schwab Investment Management Inc.’s holdings in General Electric were worth $1,231,538,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GE. Smithfield Trust Co increased its holdings in General Electric by 44.4% during the third quarter. Smithfield Trust Co now owns 22,462 shares of the conglomerate’s stock valued at $4,236,000 after buying an additional 6,909 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of General Electric by 12.5% during the third 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 during the last quarter. LPL Financial LLC grew its holdings in General Electric by 5.3% in the third quarter. LPL Financial LLC now owns 842,223 shares of the conglomerate’s stock worth $158,826,000 after purchasing an additional 42,490 shares during the last quarter. Cypress Capital Group lifted its holdings in shares of General Electric by 3.5% during the 3rd quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock valued at $351,000 after purchasing an additional 63 shares during the last quarter. Finally, Cornerstone Advisors LLC increased its position in General Electric by 1.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 50,500 shares of the conglomerate’s stock valued at $9,523,000 after buying an additional 800 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

NYSE GE opened at $177.69 on Thursday. The stock’s fifty day moving average is $182.98 and its two-hundred day moving average is $170.96. 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 firm has a market capitalization of $192.31 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GE. Royal Bank of Canada decreased 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. Wells Fargo & Company lifted 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. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company 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.