General Electric (NYSE:GE) Stock Position Lifted by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in shares of General Electric (NYSE:GE) by 8.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 82,612 shares of the conglomerate’s stock after acquiring an additional 6,220 shares during the period. Private Advisor Group LLC’s holdings in General Electric were worth $10,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of GE. Spire Wealth Management boosted its stake in General Electric by 6.2% during the fourth quarter. Spire Wealth Management now owns 7,553 shares of the conglomerate’s stock valued at $980,000 after buying an additional 440 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of General Electric by 9.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 4,953 shares of the conglomerate’s stock worth $632,000 after purchasing an additional 425 shares during the last quarter. Sheets Smith Wealth Management bought a new stake in shares of General Electric in the 4th quarter worth approximately $3,959,000. SYM FINANCIAL Corp lifted its stake in General Electric by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 8,331 shares of the conglomerate’s stock valued at $1,063,000 after purchasing an additional 249 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in General Electric by 21.5% during the fourth quarter. National Bank of Canada FI now owns 582,970 shares of the conglomerate’s stock worth $73,425,000 after buying an additional 103,337 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

GE traded up $1.32 during midday trading on Tuesday, hitting $169.29. 2,412,349 shares of the company’s stock traded hands, compared to its average volume of 7,841,674. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $185.31 billion, a PE ratio of 55.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The stock’s fifty day simple moving average is $162.20 and its 200-day simple moving average is $138.73. General Electric has a one year low of $78.17 and a one year high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, equities analysts anticipate that General Electric will post 3.96 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

GE has been the subject of a number of recent research reports. Barclays cut their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. The Goldman Sachs Group boosted their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, StockNews.com started coverage on shares of General Electric in a research note on Monday, April 29th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $172.29.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.