General Electric (NYSE:GE) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc grew its position in shares of General Electric (NYSE:GE) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,180 shares of the conglomerate’s stock after purchasing an additional 2,828 shares during the quarter. General Electric makes up about 0.7% of Versant Capital Management Inc’s holdings, making the stock its 28th largest position. Versant Capital Management Inc’s holdings in General Electric were worth $3,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GE. Old Port Advisors increased its holdings in shares of General Electric by 1.4% in the 4th quarter. Old Port Advisors now owns 5,609 shares of the conglomerate’s stock valued at $936,000 after acquiring an additional 78 shares during the period. Principal Financial Group Inc. grew its position in General Electric by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock worth $249,596,000 after purchasing an additional 48,543 shares during the last quarter. SMART Wealth LLC purchased a new position in General Electric during the 3rd quarter worth $354,000. Lord Abbett & CO. LLC acquired a new position in General Electric in the third quarter valued at $44,725,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of General Electric by 6.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 20,655 shares of the conglomerate’s stock valued at $3,862,000 after buying an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Price Performance

GE opened at $168.59 on Friday. General Electric has a 1 year low of $98.92 and a 1 year high of $194.80. The company’s 50 day simple moving average is $174.59 and its 200 day simple moving average is $173.00. The stock has a market capitalization of $182.46 billion, a PE ratio of 29.63, a P/E/G ratio of 1.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company posted $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. General Electric’s payout ratio is 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’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 owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $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 corporate 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.