Financial Advocates Investment Management Raises Stock Position in General Electric (NYSE:GE)

Financial Advocates Investment Management increased its holdings in General Electric (NYSE:GE) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,049 shares of the conglomerate’s stock after acquiring an additional 329 shares during the quarter. Financial Advocates Investment Management’s holdings in General Electric were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Tsfg LLC boosted its stake in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares in the last quarter. Saxon Interests Inc. boosted its position in shares of General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares during the last quarter. Old North State Wealth Management LLC grew its stake in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after acquiring an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its holdings in General Electric by 1.0% in 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 during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Trading Down 0.4 %

GE opened at $205.32 on Friday. General Electric has a one year low of $110.57 and a one year high of $207.84. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $220.37 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 2.53 and a beta of 1.22. The stock’s 50 day moving average price is $179.22 and its 200-day moving average price is $177.55.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts forecast that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.