Heritage Investment Group Inc. Buys New Shares in General Electric (NYSE:GE)

Heritage Investment Group Inc. purchased a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,343 shares of the conglomerate’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the 3rd quarter valued at $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $31,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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 research note on Wednesday, October 23rd. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Down 0.8 %

Shares of General Electric stock traded down $1.47 on Friday, hitting $176.93. The company had a trading volume of 5,302,109 shares, compared to its average volume of 6,243,640. General Electric has a 1 year low of $93.05 and a 1 year 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 stock has a 50 day moving average of $182.29 and a 200-day moving average of $170.57. The stock has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.81 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

About General Electric

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.