Whitaker Myers Wealth Managers LTD. Acquires New Holdings in General Electric (NYSE:GE)

Whitaker Myers Wealth Managers LTD. acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,022 shares of the conglomerate’s stock, valued at approximately $337,000.

Several other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC grew its stake in shares of General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of General Electric by 280.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,485,097 shares of the conglomerate’s stock worth $236,086,000 after purchasing an additional 1,095,093 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of General Electric by 3,827.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,100,463 shares of the conglomerate’s stock worth $174,941,000 after purchasing an additional 1,072,443 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In other news, 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 value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GE. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America lifted 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. Wells Fargo & Company lifted their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Performance

GE stock opened at $182.83 on Friday. 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 stock has a market cap of $197.87 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. The firm has a 50 day simple moving average of $174.33 and a 200 day simple moving average of $174.00. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80.

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

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

General Electric 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.