XTX Topco Ltd Reduces Position in General Electric (NYSE:GE)

XTX Topco Ltd lowered its holdings in General Electric (NYSE:GE) by 67.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,272 shares of the conglomerate’s stock after selling 2,615 shares during the period. XTX Topco Ltd’s holdings in General Electric were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GE. Tsfg LLC raised its stake in General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares in the last quarter. Strategic Advisors LLC increased its holdings in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after acquiring an additional 60 shares in the last quarter. Allegheny Financial Group LTD lifted its stake in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the last quarter. Finally, Meridian Management Co. raised its holdings in shares of General Electric by 1.2% during the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.93.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % 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 Price Performance

Shares of NYSE:GE opened at $159.95 on Thursday. The stock’s 50 day moving average price is $178.88 and its 200 day moving average price is $172.43. 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 has a market cap of $173.11 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.66 and a beta of 1.17. General Electric has a 12 month low of $98.58 and a 12 month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates 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 was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

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 $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s payout ratio is currently 19.68%.

General Electric 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.