Diversified Trust Co Increases Stake in General Electric (NYSE:GE)

Diversified Trust Co has significantly increased its investment in General Electric (NYSE:GE) by 32.1% during the fourth quarter, as reported in a recent filing with the Securities and Exchange Commission. After acquiring an additional 6,729 shares in that period, the firm now holds a total of 27,689 shares of the conglomerate's stock, valued at approximately $4,618,000 as of the last reporting date.

Other institutional investors have also changed their positions in General Electric. Notably, Newport Trust Company LLC established a new position valued at about $2.61 billion in the second quarter. Conversely, Jennison Associates LLC raised its investment in General Electric by a remarkable 91.8% in the third quarter, now controlling 7,771,759 shares worth around $1.47 billion after purchasing an additional 3,719,894 shares. Massachusetts Financial Services Co. MA also entered a new stake in the second quarter valued at around $580.2 million. International Assets Investment Management LLC dramatically increased their stake by 21,069.8% in the third quarter, owning 3,173,142 shares now valued at $598.39 million after acquiring 3,158,153 shares. Wulff Hansen & Co. similarly raised its investment by 18,693.9% in the second quarter, with now 1,614,022 shares valued at $256.58 million. Collectively, institutional investors own 74.77% of General Electric's shares.

Recent Stock Performance

On Tuesday, General Electric's stock slightly dipped by $0.03 during trading, closing at $172.42. The trading volume was 1,412,424 shares, lower than the average volume of 3,586,974. The stock has a market capitalization of $186.61 billion, with a PE ratio of 30.30 and a beta of 1.19. Currently, the company has a current ratio of 1.13 and a quick ratio of 0.85. Its debt-to-equity ratio stands at 0.95. Over the past twelve months, General Electric's lowest stock price was $99.37, while the highest was $194.80, with current 50-day and 200-day moving averages at $174.39 and $173.23, respectively.

Financial Results and Dividends

General Electric released its quarterly earnings results on October 22nd, reporting earnings per share (EPS) of $1.15 for the quarter. This figure surpassed analysts' consensus estimates of $1.13 by $0.02. The company achieved a return on equity of 18.93%, with a net profit margin of 11.48%. Its revenue reached $9.84 billion, exceeding expectations of $9.02 billion, and represented a 5.8% increase compared to the same quarter last year. Analysts are forecasting an EPS of 4.24 for the current year.
Recently, General Electric announced a quarterly dividend, which is scheduled to be paid on January 27th. Shareholders on record by December 27th will receive a dividend of $0.28 per share, translating to an annualized dividend of $1.12, giving a dividend yield of 0.65%. The company’s current dividend payout ratio is 19.68%.

Insider Transactions

In a related development, SVP Russell Stokes sold 15,550 shares on November 18th, at an average price of $178.29, totaling $2,772,409.50. Post-sale, he retains 148,857 shares valued at $26.54 million. Additionally, SVP Riccardo Procacci sold 7,000 shares on November 6th at an average price of $181.13, amounting to roughly $1.27 million, and now directly owns 13,289 shares valued at around $2.41 million. Insiders currently hold about 0.66% of General Electric's total stock.

Analysts' Ratings

Several research firms have recently updated their ratings for General Electric. The Royal Bank of Canada reduced its price target from $210.00 to $200.00, maintaining an "outperform" rating. Melius Research increased its target from $194.00 to $202.00, while Citigroup raised its projection from $198.00 to $216.00 and recommended a "buy" rating. Wells Fargo & Company upped their price objective from $210.00 to $225.00, rating the stock as "overweight." Similarly, Sanford C. Bernstein adjusted its price target from $201.00 to $225.00 and maintained an "outperform" rating. Among analysts, three recommend holding the stock, and fourteen suggest buying it, revealing a consensus rating of "Moderate Buy" with an average price target of $201.47.

About General Electric

General Electric Company operates globally through its GE Aerospace division, designing and manufacturing engines for commercial and defense aircraft, along with integrated engine components and mechanical systems. The company also offers after-sales services for its products, serving markets in the Americas, Europe, Asia, and beyond.

investment, stocks, shareholding