Aigen Investment Management LP Buys Shares of 2,437 General Electric (NYSE:GE)

Aigen Investment Management LP purchased a new position in General Electric (NYSE:GE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,437 shares of the conglomerate’s stock, valued at approximately $460,000.

Other hedge funds also recently made changes to their positions in the company. Savvy Advisors Inc. grew its stake in General Electric by 61.6% during the third quarter. Savvy Advisors Inc. now owns 2,981 shares of the conglomerate’s stock valued at $562,000 after acquiring an additional 1,136 shares in the last quarter. Meridian Management Co. grew its position in shares of General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after purchasing an additional 61 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of General Electric by 2.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,656,801 shares of the conglomerate’s stock worth $501,020,000 after purchasing an additional 51,790 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of General Electric by 2.9% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,089 shares of the conglomerate’s stock worth $16,605,000 after buying an additional 2,512 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in General Electric by 6.1% during the third quarter. Apollon Wealth Management LLC now owns 20,513 shares of the conglomerate’s stock valued at $3,868,000 after buying an additional 1,182 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price 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. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays raised their price objective 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. Finally, Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Down 2.8 %

Shares of General Electric stock opened at $178.38 on Friday. The company’s 50 day moving average price is $181.69 and its 200-day moving average price is $170.43. General Electric has a 52-week low of $92.58 and a 52-week high of $194.80. 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 stock has a market capitalization of $193.06 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. Equities research analysts forecast that General Electric will post 4.22 EPS 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 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 currently 19.68%.

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.