General Electric (NYSE:GE) Stock Position Raised by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in General Electric (NYSE:GE) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,719 shares of the conglomerate’s stock after acquiring an additional 534 shares during the period. Harbor Capital Advisors Inc.’s holdings in General Electric were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of General Electric in the third quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE opened at $171.65 on Friday. General Electric has a 12 month low of $100.95 and a 12 month high of $194.80. The company’s fifty day moving average is $174.34 and its 200-day moving average is $173.36. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $185.78 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for 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 firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. Equities analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm 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 dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GE. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.