Cable Hill Partners LLC Has $318,000 Holdings in General Electric (NYSE:GE)

Cable Hill Partners LLC boosted its stake in General Electric (NYSE:GE) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684 shares of the conglomerate’s stock after buying an additional 216 shares during the quarter. Cable Hill Partners LLC’s holdings in General Electric were worth $318,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GE. Capital International Investors raised its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC acquired a new position in General Electric in the second quarter worth $2,613,332,000. Capital World Investors boosted its stake in General Electric by 2,818.1% in 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 shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake 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. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 2.8 %

General Electric stock opened at $178.38 on Friday. The firm has a market capitalization of $193.06 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.80 and a beta of 1.19. The company’s 50 day simple moving average is $181.69 and its 200 day simple moving average is $170.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a fifty-two week low of $92.58 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given 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 0.63%. General Electric’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group increased their price target 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. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’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 directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

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.