General Electric (NYSE:GE) Shares Acquired by Fiduciary Alliance LLC

Fiduciary Alliance LLC grew its position in General Electric (NYSE:GE) by 176.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,528 shares of the conglomerate’s stock after purchasing an additional 2,253 shares during the quarter. Fiduciary Alliance LLC’s holdings in General Electric were worth $588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Thoroughbred Financial Services LLC purchased a new position in shares of General Electric in the 2nd quarter valued at $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. grew its position in shares of General Electric by 15.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 967,639 shares of the conglomerate’s stock valued at $153,826,000 after buying an additional 131,033 shares during the last quarter. Lyell Wealth Management LP grew its position in shares of General Electric by 7.0% in the 2nd quarter. Lyell Wealth Management LP now owns 1,525 shares of the conglomerate’s stock valued at $242,000 after buying an additional 100 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its position in shares of General Electric by 15.5% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock valued at $5,591,000 after buying an additional 4,728 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada lowered their price objective 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. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, 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 report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Down 0.1 %

Shares of NYSE GE opened at $171.48 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80. The firm has a 50-day moving average price of $174.34 and a 200 day moving average price of $173.62. The stock has a market capitalization of $185.59 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19.

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

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s 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.