Newbridge Financial Services Group Inc. Buys Shares of 1,173 General Electric (NYSE:GE)

Newbridge Financial Services Group Inc. purchased a new position in General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,173 shares of the conglomerate’s stock, valued at approximately $196,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the third quarter worth approximately $27,000. Hager Investment Management Services LLC purchased a new stake in General Electric in the 4th quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric in the 3rd quarter valued at $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

Shares of NYSE GE opened at $205.32 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1-year low of $110.57 and a 1-year high of $207.84. The company has a market capitalization of $220.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.56 and a beta of 1.22. The business has a 50-day moving average of $179.68 and a 200-day moving average of $177.89.

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 22.19% and a net margin of 14.31%. On average, equities analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared 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. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup upped their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

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.