Chelsea Counsel Co. Acquires 400 Shares of General Electric (NYSE:GE)

Chelsea Counsel Co. lifted its stake in General Electric (NYSE:GE) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,440 shares of the conglomerate’s stock after acquiring an additional 400 shares during the period. General Electric makes up about 0.9% of Chelsea Counsel Co.’s holdings, making the stock its 29th largest holding. Chelsea Counsel Co.’s holdings in General Electric were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GE. Lantz Financial LLC lifted its holdings in shares of General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after buying an additional 70 shares in the last quarter. ORG Partners LLC increased its holdings in General Electric by 554.3% during the 2nd quarter. ORG Partners LLC now owns 1,976 shares of the conglomerate’s stock worth $314,000 after acquiring an additional 1,674 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in General Electric by 78.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 550 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 241 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in General Electric by 1.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,146 shares of the conglomerate’s stock valued at $2,304,000 after purchasing an additional 142 shares during the period. Finally, Windmill Hill Asset Management Ltd grew its position in shares of General Electric by 34.6% during the 2nd quarter. Windmill Hill Asset Management Ltd now owns 35,544 shares of the conglomerate’s stock valued at $5,650,000 after purchasing an additional 9,137 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

GE opened at $168.63 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $181.11 and its 200 day simple moving average is $172.48. The firm has a market cap of $182.51 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.69 and a beta of 1.17. General Electric has a 1 year low of $95.92 and a 1 year high of $194.80.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GE shares. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.93.

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.