Atlantic Edge Private Wealth Management LLC Grows Stock Holdings in General Electric (NYSE:GE)

Atlantic Edge Private Wealth Management LLC increased its position in shares of General Electric (NYSE:GE) by 38.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 226 shares of the conglomerate’s stock after buying an additional 63 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in General Electric were worth $38,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter valued at $27,000. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter valued at $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric during the third quarter valued at $28,000. 74.77% of the stock is 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 the business’s stock in a transaction on Monday, November 18th. The shares were 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 approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GE shares. 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, January 24th. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Stock Performance

Shares of General Electric stock opened at $205.33 on Tuesday. The firm’s fifty day simple moving average is $179.68 and its 200-day simple moving average is $178.00. The stock has a market capitalization of $220.38 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a 12 month low of $110.95 and a 12 month high of $207.84. 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 (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. General Electric’s payout ratio is currently 18.70%.

General Electric Company 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.