Johnson & White Wealth Management LLC Makes New $733,000 Investment in General Electric (NYSE:GE)

Johnson & White Wealth Management LLC purchased a new stake in General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel reports. The fund purchased 4,350 shares of the conglomerate’s stock, valued at approximately $733,000.

A number of other institutional investors also recently modified their holdings of the business. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

GE opened at $171.48 on Tuesday. The stock has a market cap of $185.59 billion, a P/E ratio of 30.14, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a 52-week low of $100.95 and a 52-week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $174.34 and a 200 day moving average of $173.62.

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

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors 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 yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price 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. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price 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. Finally, UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

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.