General Electric (NYSE:GE) Shares Sold by Mizuho Securities USA LLC

17 Nov 2024, 06:44 by Scott Moore · The Cerbat Gem

Mizuho Securities USA LLC lessened its position in shares of General Electric (NYSE:GE – Free Report) by 64.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,609 shares of the conglomerate’s stock after selling 54,787 shares during the quarter. Mizuho Securities USA LLC’s holdings in General Electric were worth $5,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter valued at approximately $27,000. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Finally, Costello Asset Management INC increased its position in General Electric by 92.0% during the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on GE shares. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein boosted their price objective 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. Finally, Royal Bank of Canada decreased 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 report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Get Our Latest Analysis on GE

General Electric Trading Down 0.8 %

Shares of GE opened at $176.93 on Friday. General Electric has a twelve month low of $93.05 and a twelve month high of $194.80. The firm has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. 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’s fifty day simple moving average is $182.29 and its 200 day simple moving average is $170.63.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business posted $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Company Profile

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