Nwam LLC Takes $2.18 Million Position in General Electric (NYSE:GE)

Nwam LLC purchased a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,578 shares of the conglomerate’s stock, valued at approximately $2,183,000.

Other hedge funds have also modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter valued at approximately $28,000. Finally, Studio Investment Management LLC increased its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GE shares. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein raised 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on 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 owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Price Performance

Shares of NYSE:GE opened at $181.11 on Friday. The company has a market cap of $196.01 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.76 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The business has a fifty day simple moving average of $183.22 and a 200-day simple moving average of $171.10.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Equities research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. 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.