Premier Path Wealth Partners LLC Boosts Stock Holdings in General Electric (NYSE:GE)

Premier Path Wealth Partners LLC lifted its stake in General Electric (NYSE:GE) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,153 shares of the conglomerate’s stock after acquiring an additional 611 shares during the period. Premier Path Wealth Partners LLC’s holdings in General Electric were worth $2,361,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter worth $2,613,332,000. Jennison Associates LLC boosted its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in General Electric by 280.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,485,097 shares of the conglomerate’s stock worth $236,086,000 after purchasing an additional 1,095,093 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the firm’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 value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Trading Up 1.7 %

Shares of General Electric stock opened at $182.83 on Friday. The firm has a 50-day simple moving average of $174.38 and a two-hundred day simple moving average of $173.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80. The company has a market cap of $197.87 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

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.