Reynders McVeigh Capital Management LLC Has $317,000 Position in General Electric (NYSE:GE)

Reynders McVeigh Capital Management LLC increased its holdings in shares of General Electric (NYSE:GE) by 23.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,681 shares of the conglomerate’s stock after acquiring an additional 317 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in General Electric were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GE. Catalyst Capital Advisors LLC boosted its stake in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp boosted its stake in General Electric by 10.5% in the 2nd 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 during the period. Marietta Investment Partners LLC bought a new stake in General Electric in the 2nd quarter valued at $1,569,000. Senator Investment Group LP bought a new stake in shares of General Electric during the 2nd quarter valued at $34,973,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of General Electric by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 433,111 shares of the conglomerate’s stock valued at $81,676,000 after acquiring an additional 3,430 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $1,267,910.00. Following the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $182.61 on Thursday. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The business has a 50-day simple moving average of $182.53 and a two-hundred day simple moving average of $172.15. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $197.63 billion, a PE ratio of 32.09, a PEG ratio of 1.77 and a beta of 1.17.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. Analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is 19.68%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GE. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.