General Electric (NYSE:GE) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC raised its holdings in shares of General Electric (NYSE:GE) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,795 shares of the conglomerate’s stock after acquiring an additional 571 shares during the quarter. Claro Advisors LLC’s holdings in General Electric were worth $904,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in GE. Davis R M Inc. boosted its position in shares of General Electric by 18.8% in the 1st quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock valued at $649,000 after purchasing an additional 586 shares during the period. Trustmark National Bank Trust Department boosted its position in shares of General Electric by 10.7% in the 1st quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock valued at $603,000 after purchasing an additional 332 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of General Electric by 4.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock valued at $998,000 after purchasing an additional 251 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of General Electric by 141.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 20,650 shares of the conglomerate’s stock valued at $3,625,000 after purchasing an additional 12,099 shares during the period. Finally, Safeguard Investment Advisory Group LLC acquired a new stake in shares of General Electric in the 1st quarter valued at about $204,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $176.93 on Monday. General Electric has a 1-year low of $93.05 and a 1-year high of $194.80. The company has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. The business has a 50 day moving average price of $182.29 and a 200 day moving average price of $170.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating 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 firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. 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 currently 19.68%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.