Clark & Stuart Inc Takes $291,000 Position in General Electric (NYSE:GE)

Clark & Stuart Inc bought a new position in General Electric (NYSE:GE) during the fourth quarter, Holdings Channel reports. The firm bought 1,741 shares of the conglomerate’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is owned by institutional investors.

General Electric Trading Down 0.7 %

GE opened at $171.65 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $174.34 and its two-hundred day moving average is $173.54. The company has a market capitalization of $185.78 billion, a P/E ratio of 30.17, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value 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 represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.