Wallace Advisory Group LLC Makes New Investment in General Electric (NYSE:GE)

Wallace Advisory Group LLC purchased a new stake in General Electric (NYSE:GE) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,235 shares of the conglomerate’s stock, valued at approximately $206,000.

A number of other institutional investors have also modified their holdings of GE. Catalyst Capital Advisors LLC boosted its stake in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the period. Mackenzie Financial Corp boosted its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC acquired a new position in General Electric during the 2nd quarter valued at approximately $1,569,000. State Street Corp grew its stake in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its position in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 3.0 %

Shares of GE stock opened at $176.77 on Wednesday. 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 stock has a market cap of $191.32 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The business’s fifty day moving average is $174.37 and its 200-day moving average is $173.74. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80.

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

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GE shares. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.47.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.