BigSur Wealth Management LLC Purchases 2,000 Shares of General Electric (NYSE:GE)

BigSur Wealth Management LLC grew its position in General Electric (NYSE:GE) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,387 shares of the conglomerate’s stock after purchasing an additional 2,000 shares during the quarter. BigSur Wealth Management LLC’s holdings in General Electric were worth $2,571,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC lifted its position in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the period. Legal & General Group Plc boosted its stake in General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Jennison Associates LLC grew its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after purchasing an additional 413,388 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Activity

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

General Electric Price Performance

Shares of NYSE GE opened at $182.83 on Monday. The company has a market capitalization of $197.87 billion, a PE ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. 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 50 day moving average price is $174.33 and its 200-day moving average price is $174.08. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. On average, equities analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 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.