Cable Hill Partners LLC Acquires 216 Shares of General Electric (NYSE:GE)

Cable Hill Partners LLC lifted its holdings in shares of General Electric (NYSE:GE) by 14.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,684 shares of the conglomerate’s stock after buying an additional 216 shares during the period. Cable Hill Partners LLC’s holdings in General Electric were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC increased its holdings in General Electric by 8.8% during the first quarter. Orion Portfolio Solutions LLC now owns 38,147 shares of the conglomerate’s stock worth $6,696,000 after buying an additional 3,095 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of General Electric by 1.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock valued at $663,000 after purchasing an additional 72 shares during the period. Tocqueville Asset Management L.P. raised its holdings in shares of General Electric by 20.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 6,997 shares of the conglomerate’s stock valued at $1,228,000 after purchasing an additional 1,168 shares during the period. Banco Santander S.A. lifted its stake in General Electric by 25.3% in the 1st quarter. Banco Santander S.A. now owns 4,906 shares of the conglomerate’s stock valued at $861,000 after purchasing an additional 992 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in General Electric during the first quarter worth about $2,323,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several research analyst reports. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price objective 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. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 2.8 %

Shares of General Electric stock opened at $178.38 on Friday. The firm’s 50-day moving average price is $181.69 and its two-hundred day moving average price is $170.43. The company has a market capitalization of $193.06 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.80 and a beta of 1.19. 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 has a 12-month low of $92.58 and a 12-month high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 0.63%. General Electric’s payout ratio is presently 19.68%.

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.