Russell Stokes Sells 15,550 Shares of General Electric (NYSE:GE) Stock

General Electric (NYSE:GE) SVP Russell Stokes sold 15,550 shares of General Electric 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

General Electric Price Performance

NYSE:GE opened at $178.87 on Friday. The company has a market capitalization of $193.59 billion, a P/E ratio of 31.44, a P/E/G ratio of 1.75 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 52 week low of $94.54 and a 52 week high of $194.80. The stock’s fifty day moving average is $183.17 and its two-hundred day moving average is $171.01.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Institutional Investors Weigh In On General Electric

Hedge funds have recently added to or reduced their stakes in the business. Studio Investment Management LLC raised its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter valued at $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth about $28,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on GE. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.