General Electric (NYSE:GE) Shares Acquired by MCF Advisors LLC

MCF Advisors LLC grew its holdings in General Electric (NYSE:GE) by 36.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,698 shares of the conglomerate’s stock after acquiring an additional 717 shares during the period. MCF Advisors LLC’s holdings in General Electric were worth $451,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp acquired a new position in General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the third quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 2.5 %

Shares of NYSE:GE opened at $187.46 on Wednesday. General Electric has a 12-month low of $101.16 and a 12-month high of $194.80. 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 capitalization of $202.89 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. The firm has a fifty day moving average of $174.30 and a two-hundred day moving average of $174.30.

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

General Electric Dividend Announcement

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

Analysts Set New Price Targets

GE has been the topic of several research reports. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This 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 owned by company 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.