Kingsview Wealth Management LLC Buys 21,474 Shares of General Electric (NYSE:GE)

Kingsview Wealth Management LLC boosted its position in shares of General Electric (NYSE:GE) by 10.2% during the 4th quarter, HoldingsChannel reports. The fund owned 232,266 shares of the conglomerate’s stock after buying an additional 21,474 shares during the quarter. General Electric makes up approximately 0.8% of Kingsview Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Kingsview Wealth Management LLC’s holdings in General Electric were worth $38,740,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its position in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $733,000. State Street Corp lifted its position in shares of General Electric by 2.1% during the 3rd 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 during the period. Soltis Investment Advisors LLC boosted its stake in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its position in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.4 %

Shares of NYSE:GE opened at $205.32 on Friday. General Electric has a one year low of $110.57 and a one year high of $207.84. The stock has a market cap of $220.37 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 2.53 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a 50 day moving average of $179.22 and a 200-day moving average of $177.55.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. 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. Finally, Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.