Parsons Capital Management Inc. RI Purchases 422 Shares of General Electric (NYSE:GE)

Parsons Capital Management Inc. RI grew its position in General Electric (NYSE:GE) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,884 shares of the conglomerate’s stock after purchasing an additional 422 shares during the period. Parsons Capital Management Inc. RI’s holdings in General Electric were worth $1,148,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GE. Catalyst Capital Advisors LLC increased its stake in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC bought a new position in shares of General Electric in the fourth quarter valued at approximately $733,000. State Street Corp increased its position in shares of General Electric by 2.1% during the third 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 during the last quarter. Soltis Investment Advisors LLC lifted its holdings in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the period. Finally, World Investment Advisors LLC boosted its position in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 owns 13,289 shares in the company, valued at $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 currently owned by insiders.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Price Performance

General Electric stock opened at $194.30 on Tuesday. The firm has a market capitalization of $210.29 billion, a P/E ratio of 34.15, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a one year low of $103.75 and a one year high of $207.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business has a fifty day moving average price of $175.33 and a 200-day moving average price of $175.15.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. As a group, equities research analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s dividend payout ratio is currently 19.68%.

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.