General Electric (NYSE:GE) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lessened its holdings in shares of General Electric (NYSE:GE) by 0.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,816 shares of the conglomerate’s stock after selling 678 shares during the quarter. General Electric comprises about 3.1% of Grandfield & Dodd LLC’s holdings, making the stock its 5th biggest holding. Grandfield & Dodd LLC’s holdings in General Electric were worth $51,825,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter worth approximately $28,000. Finally, Studio Investment Management LLC raised its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

Shares of General Electric stock opened at $177.56 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $192.17 billion, a P/E ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a one year low of $94.54 and a one year high of $194.80. The firm has a fifty day moving average of $182.75 and a two-hundred day moving average of $170.91.

General Electric (NYSE:GE) last released 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 return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the company earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued 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%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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. Finally, Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Activity at General Electric

In related 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 transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.