Hillcrest Wealth Advisors NY LLC Buys Shares of 12,311 General Electric (NYSE:GE)

Hillcrest Wealth Advisors NY LLC purchased a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,311 shares of the conglomerate’s stock, valued at approximately $2,053,000. General Electric makes up approximately 1.0% of Hillcrest Wealth Advisors NY LLC’s holdings, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Electric during the fourth quarter valued at $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 2.0 %

Shares of NYSE:GE opened at $196.81 on Friday. The company has a 50 day moving average of $174.93 and a 200-day moving average of $174.77. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $213.00 billion, a P/E ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. As a group, analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared 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. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $205.80.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $2,407,036.57. This represents 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 owned by corporate insiders.

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.