Sonora Investment Management Group LLC Boosts Stock Position in General Electric (NYSE:GE)

Sonora Investment Management Group LLC grew its holdings in shares of General Electric (NYSE:GE) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,019 shares of the conglomerate’s stock after buying an additional 204 shares during the quarter. Sonora Investment Management Group LLC’s holdings in General Electric were worth $337,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Centaurus Financial Inc. increased its holdings in General Electric by 53.1% in the second quarter. Centaurus Financial Inc. now owns 3,404 shares of the conglomerate’s stock valued at $541,000 after buying an additional 1,181 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in General Electric by 10.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4,216 shares of the conglomerate’s stock worth $795,000 after buying an additional 394 shares during the last quarter. Czech National Bank grew its position in shares of General Electric by 5.9% in the 3rd quarter. Czech National Bank now owns 220,885 shares of the conglomerate’s stock worth $41,654,000 after acquiring an additional 12,298 shares in the last quarter. Apella Capital LLC increased its holdings in shares of General Electric by 21.2% in the 3rd quarter. Apella Capital LLC now owns 3,736 shares of the conglomerate’s stock valued at $697,000 after acquiring an additional 653 shares during the last quarter. Finally, Thrive Wealth Management LLC acquired a new stake in shares of General Electric during the 3rd quarter valued at approximately $215,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $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.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Bank of America lifted their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Down 1.0 %

General Electric stock opened at $203.59 on Friday. The company’s 50-day moving average price is $176.96 and its two-hundred day moving average price is $176.00. The stock has a market cap of $220.35 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.48 and a beta of 1.19. General Electric has a 52 week low of $105.70 and a 52 week high of $207.65. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings results 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 return on equity of 22.19% and a net margin of 14.31%. On average, analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

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.