General Electric (NYSE:GE) Shares Bought by 1858 Wealth Management LLC

1858 Wealth Management LLC grew its stake in General Electric (NYSE:GE) by 19.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,268 shares of the conglomerate’s stock after buying an additional 1,529 shares during the period. General Electric accounts for 1.2% of 1858 Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. 1858 Wealth Management LLC’s holdings in General Electric were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Czech National Bank increased its holdings in shares of General Electric by 5.9% in the third quarter. Czech National Bank now owns 220,885 shares of the conglomerate’s stock valued at $41,654,000 after purchasing an additional 12,298 shares during the period. Everpar Advisors LLC acquired a new stake in shares of General Electric in the 3rd quarter worth $214,000. Miracle Mile Advisors LLC increased its stake in shares of General Electric by 20.1% during the third quarter. Miracle Mile Advisors LLC now owns 2,870 shares of the conglomerate’s stock worth $541,000 after acquiring an additional 481 shares during the period. Fulton Bank N.A. raised its holdings in General Electric by 8.4% during the third quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock worth $350,000 after purchasing an additional 143 shares in the last quarter. Finally, Mather Group LLC. lifted its position in General Electric by 4.8% in the third quarter. Mather Group LLC. now owns 18,289 shares of the conglomerate’s stock valued at $3,449,000 after purchasing an additional 845 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $202.19 on Wednesday. The firm has a market capitalization of $218.83 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21. The company has a 50 day moving average price of $177.89 and a 200 day moving average price of $176.86. General Electric has a one year low of $108.60 and a one year high of $207.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts anticipate that General Electric will post 5.39 EPS for the current 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 dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three investment 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 an average rating of “Moderate Buy” and a consensus price target of $208.73.

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.