Parisi Gray Wealth Management Purchases 63 Shares of General Electric (NYSE:GE)

Parisi Gray Wealth Management lifted its holdings in General Electric (NYSE:GE) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 5,831 shares of the conglomerate’s stock after purchasing an additional 63 shares during the quarter. Parisi Gray Wealth Management’s holdings in General Electric were worth $972,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in General Electric by 34.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 38,068 shares of the conglomerate’s stock valued at $6,052,000 after buying an additional 9,745 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of General Electric by 14.9% in the second quarter. GHP Investment Advisors Inc. now owns 1,167 shares of the conglomerate’s stock valued at $186,000 after acquiring an additional 151 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of General Electric in the second quarter valued at $907,000. Wealthspire Advisors LLC lifted its holdings in shares of General Electric by 19.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 18,563 shares of the conglomerate’s stock worth $2,951,000 after acquiring an additional 3,042 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of General Electric during the 2nd quarter worth about $556,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on 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 owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Down 0.1 %

General Electric stock traded down $0.21 during mid-day trading on Monday, reaching $171.48. 5,608,021 shares of the company were exchanged, compared to its average volume of 4,975,105. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $185.59 billion, a P/E ratio of 30.14, a PEG ratio of 1.63 and a beta of 1.19. The business has a fifty day moving average of $174.34 and a 200 day moving average of $173.54. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

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.