Principle Wealth Partners LLC Has $3.43 Million Stake in General Electric (NYSE:GE)

Principle Wealth Partners LLC boosted its holdings in shares of General Electric (NYSE:GE) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,536 shares of the conglomerate’s stock after acquiring an additional 495 shares during the quarter. Principle Wealth Partners LLC’s holdings in General Electric were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Gilman Hill Asset Management LLC bought a new stake in General Electric in the third quarter valued at about $209,000. CVA Family Office LLC boosted its holdings in General Electric by 4.4% during the third quarter. CVA Family Office LLC now owns 1,962 shares of the conglomerate’s stock valued at $370,000 after purchasing an additional 83 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in shares of General Electric by 62.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 3,641 shares of the conglomerate’s stock valued at $687,000 after purchasing an additional 1,406 shares during the period. Svenska Handelsbanken AB publ acquired a new position in shares of General Electric in the 3rd quarter worth approximately $38,710,000. Finally, Oliver Luxxe Assets LLC boosted its stake in General Electric by 16.0% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 34,468 shares of the conglomerate’s stock valued at $6,500,000 after buying an additional 4,752 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

Shares of GE opened at $205.33 on Tuesday. The business’s fifty day moving average price is $179.68 and its two-hundred day moving average price is $178.00. The firm has a market capitalization of $220.38 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a 52 week low of $110.95 and a 52 week high of $207.84. 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 posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

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

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GE shares. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Citigroup increased their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. 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 research note on Thursday, January 2nd. Finally, Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

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.