Claro Advisors LLC Grows Stake in General Electric (NYSE:GE)

Claro Advisors LLC boosted its position in shares of General Electric (NYSE:GE) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,795 shares of the conglomerate’s stock after purchasing an additional 571 shares during the quarter. Claro Advisors LLC’s holdings in General Electric were worth $904,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GE. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. 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 research report on Monday, October 14th. Finally, Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

General Electric Price Performance

GE stock opened at $176.93 on Monday. The business’s fifty day moving average price is $182.29 and its 200 day moving average price is $170.71. 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 12-month low of $93.05 and a 12-month high of $194.80. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings results 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 company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is 19.68%.

About General Electric

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.