General Electric (NYSE:GE) Shares Acquired by Channel Wealth LLC

Channel Wealth LLC increased its holdings in General Electric (NYSE:GE) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,678 shares of the conglomerate’s stock after acquiring an additional 132 shares during the quarter. Channel Wealth LLC’s holdings in General Electric were worth $447,000 at the end of the most recent quarter.

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

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $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 corporate insiders.

General Electric Price Performance

Shares of NYSE GE opened at $179.75 on Friday. 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 $194.54 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.40 and a beta of 1.19. The company’s 50-day moving average price is $174.36 and its 200 day moving average price is $173.79. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80.

General Electric (NYSE:GE) last released its quarterly 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. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, research analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors 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 0.62%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Company 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.