Addison Advisors LLC Purchases 2,601 Shares of General Electric (NYSE:GE)

by · The Markets Daily

Addison Advisors LLC raised its stake in shares of General Electric (NYSE:GE – Free Report) by 116.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,828 shares of the conglomerate’s stock after acquiring an additional 2,601 shares during the quarter. Addison Advisors LLC’s holdings in General Electric were worth $910,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new position in General Electric in the 2nd quarter worth about $2,613,332,000. Capital World Investors boosted its position in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Legal & General Group Plc grew its holdings in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $184.81 on Monday. The company’s 50 day simple moving average is $180.78 and its 200-day simple moving average is $170.03. General Electric has a 12-month low of $90.34 and a 12-month high of $194.80. The firm has a market cap of $200.02 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.82 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.

General Electric (NYSE:GE – Get Free Report) last announced its earnings results 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 business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock 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 note on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Check Out Our Latest Stock Analysis on GE

General Electric Company 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.

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