Clear Harbor Asset Management LLC Increases Stake in General Electric (NYSE:GE)

Clear Harbor Asset Management LLC increased its position in shares of General Electric (NYSE:GE) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,169 shares of the conglomerate’s stock after purchasing an additional 82 shares during the period. Clear Harbor Asset Management LLC’s holdings in General Electric were worth $362,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GE. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the 3rd quarter valued at $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company lifted their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling

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 transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Trading Up 2.5 %

GE opened at $187.46 on Wednesday. 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 $202.89 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.49 and a beta of 1.19. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The stock has a fifty day moving average price of $174.30 and a 200-day moving average price of $174.30.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. As a group, equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders 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 dividend yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

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.