Platform Technology Partners Reduces Position in General Electric (NYSE:GE)

Platform Technology Partners decreased its position in General Electric (NYSE:GE) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,585 shares of the conglomerate’s stock after selling 304 shares during the period. General Electric makes up about 0.9% of Platform Technology Partners’ portfolio, making the stock its 23rd biggest holding. Platform Technology Partners’ holdings in General Electric were worth $2,939,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GE. Catalyst Capital Advisors LLC raised its holdings in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new stake in shares of General Electric in the second quarter worth about $1,569,000. GAMMA Investing LLC grew its holdings in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after acquiring an additional 3,442 shares during the period. Finally, Senator Investment Group LP purchased a new position in General Electric during the second quarter valued at approximately $34,973,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GE shares. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company 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 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

General Electric Stock Down 0.1 %

GE stock opened at $184.62 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $180.98 and a two-hundred day moving average of $170.19. General Electric has a 12 month low of $91.77 and a 12 month high of $194.80. The company has a market cap of $199.81 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.82 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 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.