Vinva Investment Management Ltd Acquires 13,965 Shares of General Electric (NYSE:GE)

Vinva Investment Management Ltd raised its holdings in shares of General Electric (NYSE:GE) by 218.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,366 shares of the conglomerate’s stock after acquiring an additional 13,965 shares during the period. Vinva Investment Management Ltd’s holdings in General Electric were worth $3,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Strategic Wealth Partners Ltd. bought a new position in General Electric during the first quarter valued at approximately $203,000. Swedbank AB bought a new position in shares of General Electric in the first quarter worth approximately $25,269,000. Burney Co. grew its holdings in shares of General Electric by 64.0% in the first quarter. Burney Co. now owns 3,163 shares of the conglomerate’s stock worth $555,000 after purchasing an additional 1,234 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of General Electric by 475.6% in the first quarter. Cetera Investment Advisers now owns 223,746 shares of the conglomerate’s stock worth $39,274,000 after purchasing an additional 184,876 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of General Electric by 51.3% in the first quarter. Cetera Advisors LLC now owns 67,249 shares of the conglomerate’s stock worth $11,804,000 after purchasing an additional 22,815 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was 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 $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

GE has been the topic of several recent analyst reports. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

Shares of General Electric stock opened at $180.60 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $195.46 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.78 and a beta of 1.19. The business has a fifty day simple moving average of $183.12 and a two-hundred day simple moving average of $171.50. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

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.