Fifth Third Wealth Advisors LLC Purchases 2,080 Shares of General Electric (NYSE:GE)

Fifth Third Wealth Advisors LLC increased its holdings in General Electric (NYSE:GE) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,584 shares of the conglomerate’s stock after purchasing an additional 2,080 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in General Electric were worth $2,766,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of General Electric in the 2nd quarter worth about $556,000. Massachusetts Financial Services Co. MA bought a new stake in General Electric during the second quarter worth approximately $580,200,000. Quantbot Technologies LP purchased a new stake in General Electric during the second quarter valued at approximately $2,963,000. Total Clarity Wealth Management Inc. lifted its stake in shares of General Electric by 31.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 1,700 shares of the conglomerate’s stock valued at $270,000 after purchasing an additional 408 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of General Electric by 55.2% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,172 shares of the conglomerate’s stock worth $1,140,000 after purchasing an additional 2,550 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Trading Up 3.0 %

NYSE GE opened at $176.77 on Wednesday. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The company has a fifty day simple moving average of $174.37 and a two-hundred day simple moving average of $173.74. 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 stock has a market cap of $191.32 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19.

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

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

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.