Nilsine Partners LLC Boosts Stake in General Electric (NYSE:GE)

Nilsine Partners LLC lifted its holdings in shares of General Electric (NYSE:GE) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,421 shares of the conglomerate’s stock after acquiring an additional 260 shares during the quarter. Nilsine Partners LLC’s holdings in General Electric were worth $237,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GE. Susquehanna Fundamental Investments LLC acquired a new position in General Electric in the second quarter worth about $811,000. Northwestern Mutual Wealth Management Co. grew its position in shares of General Electric by 4.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,953 shares of the conglomerate’s stock worth $10,644,000 after acquiring an additional 3,086 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of General Electric by 11.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock valued at $190,000 after acquiring an additional 123 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of General Electric by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 19,317 shares of the conglomerate’s stock valued at $3,071,000 after acquiring an additional 187 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in General Electric by 10.6% during the second quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate’s stock worth $35,111,000 after purchasing an additional 21,127 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Citigroup boosted 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. UBS Group increased their price objective on shares of 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 restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Up 2.3 %

Shares of GE stock opened at $198.88 on Thursday. General Electric has a 1 year low of $104.98 and a 1 year high of $207.65. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s fifty day moving average is $176.00 and its 200-day moving average is $175.63. The stock has a market cap of $215.25 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Equities analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.56%. General Electric’s dividend payout ratio (DPR) is 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.