Massachusetts Wealth Management Purchases 650 Shares of General Electric (NYSE:GE)

Massachusetts Wealth Management boosted its position in General Electric (NYSE:GE) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,382 shares of the conglomerate’s stock after purchasing an additional 650 shares during the period. General Electric accounts for about 1.6% of Massachusetts Wealth Management’s portfolio, making the stock its 15th biggest holding. Massachusetts Wealth Management’s holdings in General Electric were worth $2,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank increased its holdings in General Electric by 5.9% in the third quarter. Czech National Bank now owns 220,885 shares of the conglomerate’s stock valued at $41,654,000 after purchasing an additional 12,298 shares during the period. Everpar Advisors LLC acquired a new stake in shares of General Electric in the third quarter valued at about $214,000. Miracle Mile Advisors LLC raised its position in shares of General Electric by 20.1% during the third quarter. Miracle Mile Advisors LLC now owns 2,870 shares of the conglomerate’s stock worth $541,000 after acquiring an additional 481 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of General Electric by 8.4% in the third quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock worth $350,000 after acquiring an additional 143 shares during the period. Finally, Mather Group LLC. boosted its holdings in General Electric by 4.8% in the third quarter. Mather Group LLC. now owns 18,289 shares of the conglomerate’s stock valued at $3,449,000 after acquiring an additional 845 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.9 %

GE stock opened at $202.19 on Wednesday. The firm has a market capitalization of $218.83 billion, a PE ratio of 33.75, a P/E/G ratio of 2.53 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $108.60 and a twelve month high of $207.65. The stock’s 50 day moving average is $178.24 and its 200-day moving average is $177.16.

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

General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GE shares. Deutsche Bank Aktiengesellschaft reduced their price objective 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. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Three investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.73.

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.