General Electric (NYSE:GE) Shares Purchased by Channel Wealth LLC

Channel Wealth LLC lifted its stake in shares of General Electric (NYSE:GE) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,678 shares of the conglomerate’s stock after purchasing an additional 132 shares during the period. Channel Wealth LLC’s holdings in General Electric were worth $447,000 as of its most recent SEC filing.

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

General Electric Stock Down 0.3 %

General Electric stock opened at $179.75 on Friday. The firm has a market capitalization of $194.54 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The stock’s fifty day simple moving average is $174.36 and its 200-day simple moving average is $173.79.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This 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 link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.47.

About General Electric

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.