Key Client Fiduciary Advisors LLC Increases Stake in General Electric (NYSE:GE)

Key Client Fiduciary Advisors LLC raised its holdings in shares of General Electric (NYSE:GE) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,507 shares of the conglomerate’s stock after buying an additional 214 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in General Electric were worth $418,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GE. State Street Corp grew its stake in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC grew its position in shares of General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Jennison Associates LLC lifted its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after buying an additional 413,388 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Up 6.5 %

Shares of General Electric stock opened at $200.66 on Friday. General Electric has a one year low of $101.16 and a one year high of $207.65. The company has a market cap of $217.17 billion, a P/E ratio of 35.26, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a fifty day moving average of $174.49 and a two-hundred day moving average of $174.59.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. On average, analysts forecast that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The company 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. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.