Stoneridge Investment Partners LLC Purchases New Holdings in General Electric (NYSE:GE)

Stoneridge Investment Partners LLC acquired a new position in shares of General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 15,255 shares of the conglomerate’s stock, valued at approximately $2,544,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the 3rd quarter valued at $27,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric during the 4th quarter valued at $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric in the third quarter worth $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

NYSE GE opened at $205.32 on Friday. The stock has a market capitalization of $220.37 billion, a PE ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. The stock has a 50-day simple moving average of $179.68 and a 200 day simple moving average of $177.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a twelve month low of $110.57 and a twelve month high of $207.84.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Research analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Citigroup raised 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 boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric 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.