SeaTown Holdings Pte. Ltd. Has $9.38 Million Stake in General Electric (NYSE:GE)

SeaTown Holdings Pte. Ltd. raised its holdings in General Electric (NYSE:GE) by 61.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,208 shares of the conglomerate’s stock after buying an additional 21,500 shares during the period. General Electric comprises about 6.4% of SeaTown Holdings Pte. Ltd.’s holdings, making the stock its 9th largest position. SeaTown Holdings Pte. Ltd.’s holdings in General Electric were worth $9,375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GE. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter worth $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the third quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the third quarter valued at about $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

GE stock opened at $182.83 on Friday. The firm has a 50 day simple moving average of $174.33 and a two-hundred day simple moving average of $174.00. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. General Electric has a one year low of $101.16 and a one year 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.

General Electric (NYSE:GE) last posted its quarterly earnings data 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. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. On average, analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GE shares. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company upped their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

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 stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value 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 approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.