1,192 Shares in General Electric (NYSE:GE) Purchased by First Business Financial Services Inc.

First Business Financial Services Inc. purchased a new position in General Electric (NYSE:GE) during the third quarter, Holdings Channel.com reports. The firm purchased 1,192 shares of the conglomerate’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Tsfg LLC lifted its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the last quarter. Macroview Investment Management LLC increased its position in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC increased its position in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the period. Finally, Allegheny Financial Group LTD increased its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.8 %

Shares of General Electric stock opened at $178.38 on Friday. General Electric has a 1 year low of $92.58 and a 1 year high of $194.80. The business has a 50-day moving average of $181.69 and a two-hundred day moving average of $170.43. The company has a market capitalization of $193.06 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. 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 results 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. The company 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 company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GE shares. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America boosted 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, Royal Bank of Canada reduced their price objective 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.