Drive Wealth Management LLC Has $472,000 Stock Holdings in General Electric (NYSE:GE)

Drive Wealth Management LLC grew its holdings in General Electric (NYSE:GE) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,828 shares of the conglomerate’s stock after acquiring an additional 285 shares during the quarter. Drive Wealth Management LLC’s holdings in General Electric were worth $472,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $29,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.80.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 transaction, the senior vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This 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 corporate insiders.

General Electric Stock Down 2.0 %

GE opened at $196.81 on Monday. The firm has a 50-day simple moving average of $175.33 and a two-hundred day simple moving average of $175.08. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The company has a market capitalization of $213.00 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.53 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.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

General Electric Company 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.