Turtle Creek Wealth Advisors LLC Buys 189 Shares of General Electric (NYSE:GE)

Turtle Creek Wealth Advisors LLC boosted its stake in General Electric (NYSE:GE) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,459 shares of the conglomerate’s stock after acquiring an additional 189 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in General Electric were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Heritage Investment Group Inc. bought a new position in General Electric during the third quarter worth $253,000. Natixis Advisors LLC boosted its position in shares of General Electric by 7.5% during the 3rd quarter. Natixis Advisors LLC now owns 696,404 shares of the conglomerate’s stock worth $131,328,000 after purchasing an additional 48,298 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of General Electric by 3.8% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 12,175 shares of the conglomerate’s stock valued at $2,296,000 after buying an additional 442 shares during the period. Seelaus Asset Management LLC grew its stake in shares of General Electric by 36.4% in the 3rd quarter. Seelaus Asset Management LLC now owns 4,683 shares of the conglomerate’s stock valued at $883,000 after buying an additional 1,250 shares during the period. Finally, Coastline Trust Co increased its position in General Electric by 19.1% in the 3rd quarter. Coastline Trust Co now owns 5,834 shares of the conglomerate’s stock valued at $1,100,000 after buying an additional 934 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock traded down $1.47 on Friday, hitting $176.93. 5,302,109 shares of the stock were exchanged, compared to its average volume of 6,243,640. The firm’s 50 day moving average is $182.29 and its two-hundred day moving average is $170.57. General Electric has a one year low of $93.05 and a one year high of $194.80. The firm has a market capitalization of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.81 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its 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 firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business earned $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business 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 of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GE shares. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $200.93.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.