Neo Ivy Capital Management Takes Position in General Electric (NYSE:GE)

Neo Ivy Capital Management acquired a new stake in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,986 shares of the conglomerate’s stock, valued at approximately $1,506,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Studio Investment Management LLC increased its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GE shares. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped 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. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of GE opened at $171.29 on Wednesday. The business’s fifty day moving average price is $181.76 and its 200 day moving average price is $172.48. General Electric has a 12-month low of $95.71 and a 12-month high of $194.80. The stock has a market capitalization of $185.39 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. 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 (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.