Precision Wealth Strategies LLC Purchases 2,071 Shares of General Electric (NYSE:GE)

Precision Wealth Strategies LLC increased its holdings in General Electric (NYSE:GE) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,395 shares of the conglomerate’s stock after acquiring an additional 2,071 shares during the quarter. General Electric makes up about 2.2% of Precision Wealth Strategies LLC’s investment portfolio, making the stock its 15th largest position. Precision Wealth Strategies LLC’s holdings in General Electric were worth $2,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

NYSE:GE opened at $203.59 on Friday. The firm’s fifty day moving average is $177.41 and its two-hundred day moving average is $176.30. The firm has a market cap of $220.35 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.48 and a beta of 1.19. 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 one year low of $105.70 and a one year high of $207.65.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates 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 expect that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

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

Analyst Ratings Changes

GE has been the topic of several analyst reports. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.