Northeast Financial Consultants Inc Makes New $237,000 Investment in General Electric (NYSE:GE)

Northeast Financial Consultants Inc bought a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,255 shares of the conglomerate’s stock, valued at approximately $237,000.

A number of other hedge funds have also made changes to their positions in GE. Dunhill Financial LLC grew its stake in General Electric by 14.8% in the 3rd quarter. Dunhill Financial LLC now owns 893 shares of the conglomerate’s stock valued at $168,000 after acquiring an additional 115 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of General Electric by 6.2% in the third quarter. Orion Portfolio Solutions LLC now owns 47,033 shares of the conglomerate’s stock valued at $8,869,000 after purchasing an additional 2,745 shares in the last quarter. World Investment Advisors LLC grew its position in shares of General Electric by 2,896.5% in the third quarter. World Investment Advisors LLC now owns 254,702 shares of the conglomerate’s stock valued at $48,032,000 after purchasing an additional 246,202 shares during the last quarter. Zacks Investment Management purchased a new position in shares of General Electric during the 3rd quarter worth approximately $502,000. Finally, Zimmer Partners LP acquired a new position in shares of General Electric during the 3rd quarter worth approximately $12,258,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $175.58 on Friday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The firm’s 50 day moving average is $182.10 and its two-hundred day moving average is $172.35. The company has a market cap of $190.03 billion, a P/E ratio of 30.86, a P/E/G ratio of 1.80 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results 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 business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, 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 value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the 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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company increased 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. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted 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. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.