General Electric (NYSE:GE) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its stake in shares of General Electric (NYSE:GE) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,512 shares of the conglomerate’s stock after purchasing an additional 951 shares during the quarter. Essex Financial Services Inc.’s holdings in General Electric were worth $4,422,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GE. Jennison Associates LLC boosted its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the period. Janus Henderson Group PLC lifted its position in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. grew its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the period. Finally, State Street Corp increased its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.0 %

Shares of GE opened at $205.33 on Tuesday. General Electric has a 12-month low of $110.95 and a 12-month high of $207.84. The firm has a market capitalization of $220.38 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. The firm has a 50-day moving average price of $179.68 and a 200 day moving average price of $178.00. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts forecast that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric 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 $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.