Hidden Cove Wealth Management LLC Takes Position in General Electric (NYSE:GE)

Hidden Cove Wealth Management LLC purchased a new position in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,362 shares of the conglomerate’s stock, valued at approximately $227,000.

Several other institutional investors also recently bought and sold shares of GE. Creative Planning increased its holdings in shares of General Electric by 9.0% in the 3rd quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock worth $37,071,000 after purchasing an additional 16,258 shares in the last quarter. Magnus Financial Group LLC increased its holdings in General Electric by 46.9% in the 3rd quarter. Magnus Financial Group LLC now owns 3,383 shares of the conglomerate’s stock worth $638,000 after buying an additional 1,080 shares in the last quarter. Petredis Investment Advisors LLC raised its position in General Electric by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 54,032 shares of the conglomerate’s stock worth $10,189,000 after buying an additional 214 shares during the last quarter. CFM Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth about $205,000. Finally, Opal Wealth Advisors LLC lifted its stake in General Electric by 11.1% during the 3rd quarter. Opal Wealth Advisors LLC now owns 1,197 shares of the conglomerate’s stock valued at $226,000 after acquiring an additional 120 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 0.4 %

General Electric stock opened at $209.71 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $110.95 and a 12-month high of $211.42. The firm has a market capitalization of $225.08 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 2.56 and a beta of 1.22. The firm has a 50 day moving average of $180.75 and a 200 day moving average of $178.56.

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

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.53%. General Electric’s payout ratio is 18.70%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GE shares. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $208.73.

About General Electric

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.