Royal London Asset Management Ltd. Boosts Stake in General Electric (NYSE:GE)

Royal London Asset Management Ltd. raised its position in General Electric (NYSE:GE) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,845 shares of the conglomerate’s stock after purchasing an additional 18,247 shares during the quarter. Royal London Asset Management Ltd.’s holdings in General Electric were worth $89,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC raised its position in General Electric by 23.2% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 1,681 shares of the conglomerate’s stock worth $317,000 after purchasing an additional 317 shares during the period. Millburn Ridgefield Corp grew its stake in General Electric by 296.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 491 shares of the conglomerate’s stock worth $93,000 after acquiring an additional 367 shares in the last quarter. Morse Asset Management Inc grew its stake in General Electric by 30.8% in the 3rd quarter. Morse Asset Management Inc now owns 18,701 shares of the conglomerate’s stock worth $3,527,000 after acquiring an additional 4,405 shares in the last quarter. IHT Wealth Management LLC grew its stake in General Electric by 5.8% in the 3rd quarter. IHT Wealth Management LLC now owns 11,610 shares of the conglomerate’s stock worth $2,187,000 after acquiring an additional 640 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its stake in General Electric by 15.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 54,000 shares of the conglomerate’s stock worth $10,183,000 after acquiring an additional 7,123 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 1.0 %

NYSE:GE opened at $182.61 on Thursday. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The firm has a 50 day moving average of $182.53 and a 200 day moving average of $172.15. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $197.63 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.78 and a beta of 1.17.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction 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 transaction, 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. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Bank of America upped their target price 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. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.