Wedmont Private Capital Purchases 667 Shares of General Electric (NYSE:GE)

Wedmont Private Capital increased its position in General Electric (NYSE:GE) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,688 shares of the conglomerate’s stock after purchasing an additional 667 shares during the quarter. Wedmont Private Capital’s holdings in General Electric were worth $2,865,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GE. State Street Corp raised its stake in General Electric by 2.1% in 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 period. Geode Capital Management LLC increased its holdings in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Newport Trust Company LLC bought a new stake in General Electric in the 2nd quarter valued at $2,613,332,000. Legal & General Group Plc lifted its holdings in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in General Electric by 91.8% during the third 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 period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were 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 owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

General Electric Trading Down 0.2 %

Shares of NYSE:GE traded down $0.36 during mid-day trading on Monday, reaching $171.33. 2,742,459 shares of the company’s stock were exchanged, compared to its average volume of 4,540,111. The firm has a market capitalization of $185.43 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The business’s fifty day moving average price is $174.34 and its 200-day moving average price is $173.54.

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

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.