DRW Securities LLC Has $2.59 Million Holdings in General Electric (NYSE:GE)

DRW Securities LLC lifted its stake in General Electric (NYSE:GE) by 480.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,054 shares of the conglomerate’s stock after acquiring an additional 11,631 shares during the period. DRW Securities LLC’s holdings in General Electric were worth $2,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Catalyst Capital Advisors LLC lifted its position in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares during the period. Mackenzie Financial Corp raised its stake in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new stake in General Electric in the 2nd quarter valued at $1,569,000. GAMMA Investing LLC raised its stake in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in shares of General Electric during the 2nd quarter worth about $34,973,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent research reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.4 %

GE stock opened at $181.15 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a market cap of $196.06 billion, a P/E ratio of 31.84, a PEG ratio of 1.78 and a beta of 1.19. The business has a fifty day moving average of $183.22 and a 200-day moving average of $171.13.

General Electric (NYSE:GE) 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. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. As a group, equities research analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. 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.