General Electric (NYSE:GE) Shares Bought by Purus Wealth Management LLC

Purus Wealth Management LLC boosted its position in shares of General Electric (NYSE:GE) by 4.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,136 shares of the conglomerate’s stock after buying an additional 137 shares during the period. Purus Wealth Management LLC’s holdings in General Electric were worth $523,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the third quarter valued at approximately $30,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of NYSE GE opened at $182.83 on Monday. The company has a market cap of $197.87 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The business’s 50 day moving average is $174.33 and its two-hundred day moving average is $174.08. 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 (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. On average, equities analysts expect that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The business 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 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 0.61%. General Electric’s payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GE shares. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. 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. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, 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. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by 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.