Pure Financial Advisors LLC Grows Position in General Electric (NYSE:GE)

Pure Financial Advisors LLC boosted its stake in shares of General Electric (NYSE:GE) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,384 shares of the conglomerate’s stock after acquiring an additional 123 shares during the period. Pure Financial Advisors LLC’s holdings in General Electric were worth $564,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the 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 owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GE. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Up 2.5 %

Shares of General Electric stock opened at $187.46 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $202.89 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.49 and a beta of 1.19. The firm’s 50-day moving average is $174.30 and its two-hundred day moving average is $174.30. General Electric has a 1 year low of $101.16 and a 1 year high of $194.80.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 19.68%.

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.