Spire Wealth Management Has $1.37 Million Position in General Electric (NYSE:GE)

Spire Wealth Management increased its stake in General Electric (NYSE:GE) by 32.0% in the 4th quarter, Holdings Channel reports. The firm owned 8,229 shares of the conglomerate’s stock after purchasing an additional 1,993 shares during the period. Spire Wealth Management’s holdings in General Electric were worth $1,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric in the 4th quarter worth approximately $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.2 %

NYSE:GE opened at $204.03 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market cap of $220.82 billion, a PE ratio of 34.06, a PEG ratio of 2.53 and a beta of 1.19. General Electric has a 52-week low of $108.60 and a 52-week high of $207.65. The stock has a 50-day simple moving average of $177.41 and a 200 day simple moving average of $176.54.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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, sell-side analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors 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 yield of 0.55%. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. 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. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price 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.