Code Waechter LLC Acquires New Stake in General Electric (NYSE:GE)

Code Waechter LLC purchased a new position in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,354 shares of the conglomerate’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC acquired a new stake in General Electric in the 2nd quarter valued at about $907,000. Oppenheimer Asset Management Inc. purchased a new position in shares of General Electric in the 2nd quarter valued at $556,000. Envestnet Asset Management Inc. raised its stake in General Electric by 15.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 967,639 shares of the conglomerate’s stock worth $153,826,000 after acquiring an additional 131,033 shares in the last quarter. Lyell Wealth Management LP boosted its stake in General Electric by 7.0% in the second quarter. Lyell Wealth Management LP now owns 1,525 shares of the conglomerate’s stock valued at $242,000 after acquiring an additional 100 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its position in shares of General Electric by 15.5% during the second quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock worth $5,591,000 after purchasing an additional 4,728 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America boosted 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, 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. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $171.48 on Tuesday. The company has a market capitalization of $185.59 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $174.34 and its 200 day moving average price is $173.62.

General Electric (NYSE:GE) last issued its quarterly 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.24 earnings per share for the current 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 annualized dividend 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%.

General Electric 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.