Ibex Wealth Advisors bought a new position in shares of General Electric (NYSE:GE – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,079 shares of the conglomerate’s stock, valued at approximately $847,000.
Other hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC lifted its stake in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $733,000. State Street Corp grew its holdings in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its holdings in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on GE shares. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.
Insider Buying and Selling at General Electric
In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $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 Up 2.2 %
NYSE:GE traded up $4.25 during trading hours on Wednesday, reaching $198.68. 798,179 shares of the company traded hands, compared to its average volume of 6,155,981. The business’s 50-day moving average price is $176.00 and its two-hundred day moving average price is $175.63. The stock has a market capitalization of $215.03 billion, a P/E ratio of 34.93, a P/E/G ratio of 1.53 and a beta of 1.19. General Electric has a 1 year low of $104.98 and a 1 year high of $207.65. 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 – Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Analysts predict that General Electric will post 4.23 earnings per share for the current year.
General Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is presently 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.
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