Aljian Capital Management LLC Takes $764,000 Position in General Electric (NYSE:GE)

Aljian Capital Management LLC bought a new position in shares of General Electric (NYSE:GE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,054 shares of the conglomerate’s stock, valued at approximately $764,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davis R M Inc. increased its position in General Electric by 18.8% during the first quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock worth $649,000 after purchasing an additional 586 shares during the last quarter. Trustmark National Bank Trust Department boosted its holdings in General Electric by 10.7% in the first quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock valued at $603,000 after acquiring an additional 332 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in General Electric by 4.6% in the first quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock valued at $998,000 after acquiring an additional 251 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in General Electric by 141.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,650 shares of the conglomerate’s stock worth $3,625,000 after acquiring an additional 12,099 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in shares of General Electric during the 1st quarter worth about $204,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.8 %

GE stock opened at $176.93 on Monday. The firm has a market cap of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 1-year low of $93.05 and a 1-year high of $194.80. The firm has a fifty day moving average price of $182.29 and a two-hundred day moving average price of $170.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released 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 net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on GE shares. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.