Park Avenue Securities LLC Acquires 10,940 Shares of General Electric (NYSE:GE)

Park Avenue Securities LLC grew its stake in General Electric (NYSE:GE) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,009 shares of the conglomerate’s stock after purchasing an additional 10,940 shares during the period. Park Avenue Securities LLC’s holdings in General Electric were worth $9,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Newport Trust Company LLC acquired a new position in General Electric in the second quarter valued at about $2,613,332,000. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in General Electric during the 2nd quarter worth approximately $580,200,000. International Assets Investment Management LLC increased its holdings in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. increased its holdings in General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 3.0 %

Shares of NYSE:GE opened at $176.77 on Wednesday. The company has a 50 day moving average price of $174.37 and a two-hundred day moving average price of $173.74. 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 company has a market capitalization of $191.32 billion, a PE ratio of 31.07, 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 released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. 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. Stockholders 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 dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

Several brokerages have recently commented on GE. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 148,857 shares in the company, 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 insiders.

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.