Verity & Verity LLC Makes New Investment in General Electric (NYSE:GE)

Verity & Verity LLC purchased a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,252 shares of the conglomerate’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Tsfg LLC raised its position in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares in the last quarter. Saxon Interests Inc. lifted its stake in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares during the last quarter. Strategic Advisors LLC boosted its holdings in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after buying an additional 60 shares during the last quarter. Finally, Meridian Management Co. grew its position in General Electric by 1.2% during the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE opened at $182.83 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The stock has a fifty day simple moving average of $174.38 and a two-hundred day simple moving average of $173.83. General Electric has a 12-month low of $101.16 and a 12-month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the business earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric 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.