Red Door Wealth Management LLC Purchases 56 Shares of General Electric (NYSE:GE)

Red Door Wealth Management LLC grew its position in General Electric (NYSE:GE) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,444 shares of the conglomerate’s stock after acquiring an additional 56 shares during the period. Red Door Wealth Management LLC’s holdings in General Electric were worth $241,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in General Electric by 2.1% during the third 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. Geode Capital Management LLC boosted its stake in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Legal & General Group Plc increased its holdings in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares during the last quarter. Jennison Associates LLC raised its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after purchasing an additional 413,388 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. JPMorgan Chase & Co. increased 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. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price 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. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Bank of America upped 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. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $205.80.

General Electric Price Performance

GE stock opened at $196.81 on Friday. The company’s 50-day moving average price is $174.93 and its two-hundred day moving average price is $174.77. The firm has a market cap of $213.00 billion, a P/E ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19. 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 12 month low of $103.75 and a 12 month high of $207.65.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.