Cerro Pacific Wealth Advisors LLC Takes $198,000 Position in General Electric (NYSE:GE)

Cerro Pacific Wealth Advisors LLC acquired a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,185 shares of the conglomerate’s stock, valued at approximately $198,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. FCG Investment Co lifted its position in shares of General Electric by 3.3% during the 4th quarter. FCG Investment Co now owns 9,831 shares of the conglomerate’s stock valued at $1,640,000 after acquiring an additional 310 shares during the period. Key Client Fiduciary Advisors LLC grew its stake in General Electric by 9.3% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,507 shares of the conglomerate’s stock worth $418,000 after buying an additional 214 shares in the last quarter. Secure Asset Management LLC increased its holdings in General Electric by 28.1% in the 4th quarter. Secure Asset Management LLC now owns 6,402 shares of the conglomerate’s stock valued at $1,068,000 after buying an additional 1,406 shares during the period. Red Door Wealth Management LLC boosted its position in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC acquired a new position in General Electric during the fourth quarter valued at approximately $7,383,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was 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 company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GE shares. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Performance

Shares of General Electric stock opened at $200.66 on Friday. The company has a market cap of $217.17 billion, a P/E ratio of 35.26, a PEG ratio of 1.53 and a beta of 1.19. 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 business has a 50-day moving average price of $174.49 and a two-hundred day moving average price of $174.59. General Electric has a 1-year low of $101.16 and a 1-year high of $207.65.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 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.