MFG Wealth Management Inc. Invests $3.03 Million in General Electric (NYSE:GE)

MFG Wealth Management Inc. purchased a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,140 shares of the conglomerate’s stock, valued at approximately $3,026,000. General Electric accounts for about 2.8% of MFG Wealth Management Inc.’s holdings, making the stock its 12th largest position.

Other institutional investors have also recently bought and sold shares of the company. Creative Planning lifted its position in General Electric by 9.0% in the 3rd quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock worth $37,071,000 after buying an additional 16,258 shares in the last quarter. Magnus Financial Group LLC increased its stake in shares of General Electric by 46.9% in the third quarter. Magnus Financial Group LLC now owns 3,383 shares of the conglomerate’s stock worth $638,000 after acquiring an additional 1,080 shares during the last quarter. Petredis Investment Advisors LLC raised its holdings in shares of General Electric by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 54,032 shares of the conglomerate’s stock worth $10,189,000 after acquiring an additional 214 shares in the last quarter. CFM Wealth Partners LLC acquired a new stake in General Electric during the third quarter valued at $205,000. Finally, Opal Wealth Advisors LLC boosted its position in General Electric by 11.1% during the third quarter. Opal Wealth Advisors LLC now owns 1,197 shares of the conglomerate’s stock valued at $226,000 after purchasing an additional 120 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GE. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America increased 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. Finally, Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Trading Up 0.4 %

General Electric stock opened at $209.71 on Thursday. General Electric has a 52 week low of $110.95 and a 52 week high of $211.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $225.08 billion, a PE ratio of 35.01, a PEG ratio of 2.56 and a beta of 1.22. The business’s 50-day simple moving average is $180.75 and its 200-day simple moving average is $178.56.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. Equities research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.66% of the company’s stock.

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.