General Electric (NYSE:GE) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in General Electric (NYSE:GE) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,687 shares of the conglomerate’s stock after selling 10,029 shares during the period. MetLife Investment Management LLC’s holdings in General Electric were worth $55,195,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter worth $2,613,332,000. Jennison Associates LLC increased its position in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in General Electric during the 2nd quarter valued at approximately $580,200,000. International Assets Investment Management LLC lifted its position in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. grew its stake in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.9 %

Shares of NYSE:GE traded down $1.69 during trading on Wednesday, hitting $182.91. The company’s stock had a trading volume of 132,770 shares, compared to its average volume of 6,160,830. The company has a market capitalization of $197.96 billion, a PE ratio of 32.44, a PEG ratio of 1.77 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. 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’s 50-day moving average price is $183.29 and its two-hundred day moving average price is $171.37.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays raised their target price 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.