Holocene Advisors LP Sells 460,280 Shares of General Electric (NYSE:GE)

Holocene Advisors LP reduced its stake in General Electric (NYSE:GE) by 60.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,371 shares of the conglomerate’s stock after selling 460,280 shares during the quarter. Holocene Advisors LP’s holdings in General Electric were worth $57,398,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC lifted its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter worth about $28,000. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target 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. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $180.41 on Tuesday. The firm has a market cap of $195.25 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. The business’s 50 day moving average is $183.01 and its 200-day moving average is $171.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data 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. The firm had revenue of $9.84 billion for 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 company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 EPS. Equities research analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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.