Western Wealth Management LLC Buys 349 Shares of General Electric (NYSE:GE)

Western Wealth Management LLC boosted its stake in shares of General Electric (NYSE:GE) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,931 shares of the conglomerate’s stock after acquiring an additional 349 shares during the period. Western Wealth Management LLC’s holdings in General Electric were worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Sei Investments Co. increased its stake in shares of General Electric by 10.0% in the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after purchasing an additional 27,682 shares during the last quarter. Prudential PLC bought a new position in shares of General Electric in the 1st quarter valued at $1,518,000. Sequoia Financial Advisors LLC boosted its holdings in shares of General Electric by 2.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after acquiring an additional 334 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of General Electric during the 1st quarter valued at $388,000. Finally, West Family Investments Inc. acquired a new stake in shares of General Electric during the 1st quarter valued at $230,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $148.09 on Friday. The stock has a 50-day moving average price of $159.32 and a 200-day moving average price of $134.37. General Electric has a 1-year low of $76.87 and a 1-year high of $158.68. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market cap of $161.90 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 3.00 and a beta of 1.29.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same period last year, the company posted $1.24 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 3.78 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s payout ratio is presently 13.38%.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent research reports. StockNews.com initiated coverage on General Electric in a report on Saturday, April 13th. They set a “hold” rating on the stock. Barclays cut their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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.