Heritage Investment Group Inc. Buys Shares of 1,343 General Electric (NYSE:GE)

Heritage Investment Group Inc. purchased a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,343 shares of the conglomerate’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC grew its position in shares of General Electric by 1.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock valued at $663,000 after purchasing an additional 72 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of General Electric by 20.0% in the first quarter. Tocqueville Asset Management L.P. now owns 6,997 shares of the conglomerate’s stock valued at $1,228,000 after acquiring an additional 1,168 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of General Electric by 25.3% during the first quarter. Banco Santander S.A. now owns 4,906 shares of the conglomerate’s stock valued at $861,000 after acquiring an additional 992 shares during the last quarter. First Foundation Advisors increased its position in General Electric by 4.7% during the 1st quarter. First Foundation Advisors now owns 3,034 shares of the conglomerate’s stock worth $533,000 after purchasing an additional 137 shares in the last quarter. Finally, Blue Barn Wealth LLC acquired a new position in General Electric in the 1st quarter valued at about $224,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on 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 sale, the senior vice president now directly 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 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.

General Electric Stock Performance

GE stock traded down $1.47 during midday trading on Friday, hitting $176.93. The stock had a trading volume of 5,302,109 shares, compared to its average volume of 6,243,640. General Electric has a 52 week low of $93.05 and a 52 week high of $194.80. 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 stock has a 50-day simple moving average of $182.29 and a 200 day simple moving average of $170.57. The firm has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.81 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 for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given 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 presently 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.