Brighton Jones LLC Boosts Stock Holdings in General Electric (NYSE:GE)

Brighton Jones LLC lifted its position in shares of General Electric (NYSE:GE) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,008 shares of the conglomerate’s stock after purchasing an additional 2,421 shares during the period. Brighton Jones LLC’s holdings in General Electric were worth $2,003,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its stake in General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the period. Mackenzie Financial Corp lifted its holdings in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the 4th quarter worth about $733,000. State Street Corp boosted its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Finally, Soltis Investment Advisors LLC grew its holdings in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 2.0 %

Shares of General Electric stock opened at $196.81 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $103.75 and a 52-week high of $207.65. The company’s 50 day moving average price is $174.93 and its 200-day moving average price is $174.77. The stock has a market capitalization of $213.00 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities research analysts forecast that General Electric will post 4.23 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. Shareholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GE. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on 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 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. Finally, Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.80.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric 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 of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents 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.

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.