Capital Advisors Wealth Management LLC Boosts Stock Position in General Electric (NYSE:GE)

Capital Advisors Wealth Management LLC grew its holdings in General Electric (NYSE:GE) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,329 shares of the conglomerate’s stock after purchasing an additional 237 shares during the period. Capital Advisors Wealth Management LLC’s holdings in General Electric were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GE. State Street Corp grew its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares during the period. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter worth $2,613,332,000. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GE. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Bank of America boosted their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Price Performance

Shares of NYSE:GE opened at $182.83 on Friday. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. 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 company has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company’s 50 day moving average is $174.38 and its 200 day moving average is $173.83.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the 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. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly 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 insiders.

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.