General Electric (NYSE:GE) Shares Purchased by Graypoint LLC

Graypoint LLC boosted its holdings in General Electric (NYSE:GE) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,624 shares of the conglomerate’s stock after buying an additional 282 shares during the quarter. Graypoint LLC’s holdings in General Electric were worth $1,438,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GE. Tsfg LLC boosted its stake in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Strategic Advisors LLC boosted its stake in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the period. Meridian Management Co. boosted its stake in General Electric by 1.2% in the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after purchasing an additional 61 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its stake in General Electric by 3.0% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate’s stock worth $399,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $171.65 on Friday. The company has a market capitalization of $185.78 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a one year low of $100.95 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company’s fifty day moving average price is $174.34 and its 200 day moving average price is $173.36.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. As a group, analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling

In other 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 transaction 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. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $201.47.

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.