General Electric (NYSE:GE) Shares Purchased by Ervin Investment Management LLC

Ervin Investment Management LLC raised its position in General Electric (NYSE:GE) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,709 shares of the conglomerate’s stock after acquiring an additional 745 shares during the quarter. General Electric accounts for about 0.4% of Ervin Investment Management LLC’s investment portfolio, making the stock its 28th largest holding. Ervin Investment Management LLC’s holdings in General Electric were worth $619,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Performance

GE opened at $182.83 on Monday. 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 52-week low of $101.16 and a 52-week high of $194.80. The firm has a market cap of $197.87 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The business’s fifty day moving average is $174.33 and its 200-day moving average is $174.08.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that General Electric will post 4.23 EPS for the current fiscal 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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company 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.