Pallas Capital Advisors LLC Acquires 1,243 Shares of General Electric (NYSE:GE)

Pallas Capital Advisors LLC grew its holdings in General Electric (NYSE:GE) by 16.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,925 shares of the conglomerate’s stock after purchasing an additional 1,243 shares during the period. Pallas Capital Advisors LLC’s holdings in General Electric were worth $1,489,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new position in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in General Electric in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $171.48 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $185.59 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.63 and a beta of 1.19. The company’s fifty day simple moving average is $174.34 and its 200 day simple moving average is $173.62. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,772,409.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GE has been the subject of several research analyst reports. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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 research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

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.