2,437 Shares in General Electric (NYSE:GE) Bought by Aigen Investment Management LP

Aigen Investment Management LP acquired a new stake in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,437 shares of the conglomerate’s stock, valued at approximately $460,000.

Other hedge funds have also recently modified their holdings of the company. Savvy Advisors Inc. lifted its position in General Electric by 61.6% during the 3rd quarter. Savvy Advisors Inc. now owns 2,981 shares of the conglomerate’s stock valued at $562,000 after acquiring an additional 1,136 shares during the period. Meridian Management Co. lifted its holdings in shares of General Electric by 1.2% during the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after purchasing an additional 61 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of General Electric by 2.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,656,801 shares of the conglomerate’s stock valued at $501,020,000 after purchasing an additional 51,790 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of General Electric by 2.9% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,089 shares of the conglomerate’s stock worth $16,605,000 after buying an additional 2,512 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in General Electric by 6.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,513 shares of the conglomerate’s stock valued at $3,868,000 after buying an additional 1,182 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on 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 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 represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America increased 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. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report 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 company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

NYSE GE opened at $178.38 on Friday. The company has a 50-day moving average price of $181.69 and a 200-day moving average price of $170.43. General Electric has a 52 week low of $92.58 and a 52 week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $193.06 billion, a P/E ratio of 31.35, a PEG ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly 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. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. Equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared 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. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 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.