Secure Asset Management LLC Increases Position in General Electric (NYSE:GE)

Secure Asset Management LLC lifted its position in shares of General Electric (NYSE:GE) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,402 shares of the conglomerate’s stock after purchasing an additional 1,406 shares during the period. Secure Asset Management LLC’s holdings in General Electric were worth $1,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Tsfg LLC boosted its position in shares of 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 in the last quarter. Red Door Wealth Management LLC lifted its stake in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. boosted its holdings in General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares in the last quarter. Strategic Advisors LLC increased its stake 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 purchasing an additional 58 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on 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 owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was 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 $26,539,714.53. This trade 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 corporate insiders.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. 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 research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $205.80.

General Electric Stock Down 2.0 %

Shares of NYSE:GE opened at $196.81 on Friday. General Electric has a fifty-two week low of $103.75 and a fifty-two week high of $207.65. 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 firm’s 50-day simple moving average is $174.93 and its 200-day simple moving average is $174.77. The company has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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, equities research analysts predict that General Electric will post 4.23 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. 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 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.