KBC Group NV Acquires 83,053 Shares of General Electric (NYSE:GE)

KBC Group NV lifted its stake in General Electric (NYSE:GE) by 96.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,735 shares of the conglomerate’s stock after purchasing an additional 83,053 shares during the period. KBC Group NV’s holdings in General Electric were worth $31,820,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter valued at approximately $27,000. Studio Investment Management LLC increased its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Costello Asset Management INC raised its holdings in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of General Electric during the second quarter worth $31,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. 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 research report on Wednesday, October 23rd. 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 report on Thursday, October 3rd. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $178.38 on Friday. The firm has a market cap of $193.06 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The business’s 50 day moving average is $181.69 and its 200-day moving average is $170.43. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $92.58 and a 1-year high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the business earned $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

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.