Brooklyn Investment Group Purchases 835 Shares of General Electric (NYSE:GE)

Brooklyn Investment Group boosted its holdings in shares of General Electric (NYSE:GE) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,394 shares of the conglomerate’s stock after purchasing an additional 835 shares during the quarter. Brooklyn Investment Group’s holdings in General Electric were worth $1,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tsfg LLC raised its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Strategic Advisors LLC increased its stake in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the period. Finally, Allegheny Financial Group LTD lifted its position in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GE shares. Citigroup increased their target price on shares of 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 reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 0.0 %

NYSE GE opened at $180.22 on Tuesday. General Electric has a one year low of $94.54 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market cap of $195.05 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.78 and a beta of 1.19. The stock’s 50-day moving average is $183.20 and its 200-day moving average is $171.22.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. Sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio 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.