Bridgewater Associates LP Sells 9,523 Shares of General Electric (NYSE:GE)

Bridgewater Associates LP decreased its holdings in shares of General Electric (NYSE:GE) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,615 shares of the conglomerate’s stock after selling 9,523 shares during the period. Bridgewater Associates LP’s holdings in General Electric were worth $38,775,000 as of its most recent SEC filing.

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

Insider Buying and Selling at General Electric

In related 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 value of $1,267,910.00. Following the sale, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reduced their target price 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Up 2.4 %

NYSE GE opened at $184.60 on Wednesday. The stock’s fifty day moving average price is $183.29 and its 200-day moving average price is $171.37. 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 market cap of $199.79 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.77 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80.

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 business had revenue of $9.84 billion during 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%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. As a group, equities analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 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.