General Electric (NYSE:GE) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of General Electric (NYSE:GE) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,013 shares of the conglomerate’s stock after purchasing an additional 513 shares during the period. Oppenheimer Asset Management Inc.’s holdings in General Electric were worth $757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Oppenheimer & Co. Inc. increased its position in shares of General Electric by 72.5% in the third quarter. Oppenheimer & Co. Inc. now owns 65,683 shares of the conglomerate’s stock worth $12,386,000 after acquiring an additional 27,615 shares in the last quarter. OLD Second National Bank of Aurora increased its position in shares of General Electric by 31.1% in the third quarter. OLD Second National Bank of Aurora now owns 590 shares of the conglomerate’s stock worth $111,000 after acquiring an additional 140 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in shares of General Electric by 7.9% in the third quarter. Pinnacle Financial Partners Inc now owns 6,978 shares of the conglomerate’s stock worth $1,316,000 after acquiring an additional 510 shares in the last quarter. Souders Financial Advisors increased its position in shares of General Electric by 39.4% in the third quarter. Souders Financial Advisors now owns 29,705 shares of the conglomerate’s stock worth $5,602,000 after acquiring an additional 8,391 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its position in shares of General Electric by 14.9% in the third quarter. Aptus Capital Advisors LLC now owns 11,707 shares of the conglomerate’s stock worth $2,208,000 after acquiring an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein upped their target price 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 upped their target price 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. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by corporate insiders.

General Electric Trading Up 0.4 %

NYSE GE opened at $177.58 on Tuesday. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. 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 company has a market capitalization of $192.19 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The company’s fifty day moving average price is $182.54 and its two-hundred day moving average price is $170.81.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 dividend payout ratio (DPR) 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.