Rockefeller Capital Management L.P. Has $108.41 Million Stake in General Electric (NYSE:GE)

by · The Markets Daily

Rockefeller Capital Management L.P. decreased its stake in shares of General Electric (NYSE:GE – Free Report) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 574,899 shares of the conglomerate’s stock after selling 85,570 shares during the quarter. Rockefeller Capital Management L.P. owned 0.05% of General Electric worth $108,405,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Newport Trust Company LLC bought a new position in General Electric in the second quarter worth $2,613,332,000. Jennison Associates LLC raised its stake in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the 2nd quarter worth about $580,200,000. International Assets Investment Management LLC boosted its position in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. increased its stake in General Electric by 18,693.9% in the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after acquiring an additional 1,605,434 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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. Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

Get Our Latest Stock Analysis on General Electric

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 2.2 %

Shares of GE opened at $180.60 on Friday. The firm has a market capitalization of $195.46 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.78 and a beta of 1.19. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s fifty day moving average price is $183.12 and its two-hundred day moving average price is $171.50.

General Electric (NYSE:GE – Get Free Report) last announced 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous 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, analysts predict that General Electric will post 4.24 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. Investors of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

General Electric Profile

(Free Report)

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.

Further Reading