Massachusetts Wealth Management Increases Stock Holdings in General Electric (NYSE:GE)

Massachusetts Wealth Management boosted its position in shares of General Electric (NYSE:GE) by 4.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,382 shares of the conglomerate’s stock after purchasing an additional 650 shares during the period. General Electric makes up 1.6% of Massachusetts Wealth Management’s holdings, making the stock its 15th largest holding. Massachusetts Wealth Management’s holdings in General Electric were worth $2,566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tsfg LLC raised its stake in General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Red Door Wealth Management LLC grew its position in General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares in the last quarter. Saxon Interests Inc. raised its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares in the last quarter. Strategic Advisors LLC lifted its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings in shares of General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.9 %

Shares of General Electric stock opened at $202.19 on Wednesday. The company’s fifty day simple moving average is $178.24 and its two-hundred day simple moving average is $177.16. General Electric has a 12-month low of $108.60 and a 12-month 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. The company has a market cap of $218.83 billion, a P/E ratio of 33.75, a PEG ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last released 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 14.31% and a return on equity of 22.19%. Research analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GE. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup upped their price target 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. Finally, Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by corporate insiders.

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.