Truvestments Capital LLC Takes Position in General Electric (NYSE:GE)

Truvestments Capital LLC purchased a new stake in General Electric (NYSE:GEFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 187 shares of the conglomerate’s stock, valued at approximately $35,000.

Other large investors have also modified their holdings of the company. DRW Securities LLC lifted its stake in General Electric by 480.0% in the 3rd quarter. DRW Securities LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,586,000 after buying an additional 11,631 shares in the last quarter. Bedell Frazier Investment Counselling LLC acquired a new stake in shares of General Electric during the 3rd quarter worth $209,000. Independent Advisor Alliance raised its holdings in shares of General Electric by 23.2% in the 3rd quarter. Independent Advisor Alliance now owns 22,943 shares of the conglomerate’s stock worth $4,326,000 after purchasing an additional 4,320 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of General Electric by 51.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 25,743 shares of the conglomerate’s stock valued at $4,853,000 after acquiring an additional 8,718 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of General Electric during the third quarter worth about $618,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.2 %

GE opened at $180.61 on Thursday. The stock’s 50 day moving average price is $183.23 and its 200 day moving average price is $171.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $195.47 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80.

General Electric (NYSE:GEGet Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business 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 company’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, research analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GE. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Read Our Latest Analysis on General Electric

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’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 value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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