Loomis Sayles & Co. L P Sells 2,197 Shares of General Electric (NYSE:GE)

Loomis Sayles & Co. L P lessened its position in shares of General Electric (NYSE:GE) by 64.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,224 shares of the conglomerate’s stock after selling 2,197 shares during the period. Loomis Sayles & Co. L P’s holdings in General Electric were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Studio Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter valued at approximately $28,000. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, 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 is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, 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. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of several research reports. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 2.2 %

GE opened at $180.60 on Friday. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. 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 company has a fifty day moving average of $183.12 and a 200-day moving average of $171.50. The stock has a market cap of $195.46 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. On average, sell-side analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

General Electric Company 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.