Townsquare Capital LLC Purchases 25,433 Shares of General Electric (NYSE:GE)

Townsquare Capital LLC increased its holdings in General Electric (NYSE:GE) by 84.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,601 shares of the conglomerate’s stock after acquiring an additional 25,433 shares during the period. Townsquare Capital LLC’s holdings in General Electric were worth $10,485,000 at the end of the most recent quarter.

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

General Electric Price Performance

Shares of GE opened at $180.61 on Thursday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a market capitalization of $195.47 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 1.19. The business’s 50-day moving average is $183.23 and its two-hundred day moving average is $171.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) 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 return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Research analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend 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 19.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value 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 ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Company 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.