Opal Wealth Advisors LLC Boosts Stock Holdings in General Electric (NYSE:GE)

Opal Wealth Advisors LLC grew its position in shares of General Electric (NYSE:GE) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260 shares of the conglomerate’s stock after purchasing an additional 63 shares during the quarter. Opal Wealth Advisors LLC’s holdings in General Electric were worth $210,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter valued at $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 0.0 %

Shares of GE stock opened at $205.33 on Tuesday. The company’s 50-day moving average price is $179.68 and its 200-day moving average price is $178.00. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market cap 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 twelve month low of $110.95 and a twelve month high of $207.84.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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 predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GE shares. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by insiders.

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.