Legacy Capital Wealth Partners LLC Buys New Shares in General Electric (NYSE:GE)

Legacy Capital Wealth Partners LLC bought a new stake in General Electric (NYSE:GE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,114 shares of the conglomerate’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. Toth Financial Advisory Corp purchased a new stake in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the 3rd quarter worth about $27,000. Studio Investment Management LLC lifted its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Costello Asset Management INC lifted its holdings in General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in General Electric during the 2nd quarter worth about $31,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on 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 $2,407,036.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

Shares of GE stock opened at $184.62 on Tuesday. The company has a market cap of $199.81 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. The stock has a 50 day simple moving average of $180.78 and a 200-day simple moving average of $170.03. General Electric has a 12-month low of $91.77 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results 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 business had revenue of $9.84 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. On average, equities analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.