SFE Investment Counsel Purchases 330 Shares of General Electric (NYSE:GE)

SFE Investment Counsel raised its position in shares of General Electric (NYSE:GE) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,190 shares of the conglomerate’s stock after buying an additional 330 shares during the quarter. SFE Investment Counsel’s holdings in General Electric were worth $2,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GE. Jennison Associates LLC raised its position in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. International Assets Investment Management LLC increased its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC raised its holdings in General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. Finally, State Street Corp grew its holdings 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 buying an additional 898,296 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s 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 of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

NYSE GE opened at $209.71 on Thursday. The business has a 50-day moving average price of $181.29 and a 200-day moving average price of $178.78. The firm has a market cap of $225.08 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth 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 $211.42. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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 analysts’ consensus estimates 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 research analysts predict 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. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.53%. General Electric’s dividend 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.