Transform Wealth LLC Boosts Stake in General Electric (NYSE:GE)

Transform Wealth LLC increased its stake in shares of General Electric (NYSE:GE) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,001 shares of the conglomerate’s stock after buying an additional 6,375 shares during the quarter. Transform Wealth LLC’s holdings in General Electric were worth $8,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Tsfg LLC lifted its position in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares during the period. Saxon Interests Inc. lifted its holdings in shares of General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares during the period. Strategic Advisors LLC boosted its position in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in General Electric by 0.5% in the 4th quarter. Chesley Taft & Associates LLC now owns 12,645 shares of the conglomerate’s stock worth $2,109,000 after buying an additional 60 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price target 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, Citigroup upped their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three 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, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $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. 0.66% of the stock is currently owned by insiders.

General Electric Stock Up 1.7 %

GE stock opened at $182.83 on Tuesday. The company has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.49 and a beta of 1.19. The firm has a 50-day moving average of $174.30 and a two-hundred day moving average of $174.30. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal 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 given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s 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.