Avidian Wealth Enterprises LLC Buys 215 Shares of General Electric (NYSE:GE)

Avidian Wealth Enterprises LLC raised its stake in shares of General Electric (NYSE:GE) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,556 shares of the conglomerate’s stock after purchasing an additional 215 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in General Electric were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GE. Kentucky Trust Co bought a new stake in shares of General Electric in the 4th quarter worth approximately $361,000. Valley Brook Capital Group Inc. lifted its holdings in shares of General Electric by 14.1% in the 4th quarter. Valley Brook Capital Group Inc. now owns 3,599 shares of the conglomerate’s stock worth $600,000 after acquiring an additional 445 shares during the last quarter. TFB Advisors LLC lifted its holdings in shares of General Electric by 8.9% in the 4th quarter. TFB Advisors LLC now owns 1,823 shares of the conglomerate’s stock worth $304,000 after acquiring an additional 149 shares during the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of General Electric by 4.3% in the 4th quarter. Capital Advisors Inc. OK now owns 5,728 shares of the conglomerate’s stock worth $955,000 after acquiring an additional 238 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of General Electric by 35.5% in the 4th quarter. Leavell Investment Management Inc. now owns 11,472 shares of the conglomerate’s stock worth $1,917,000 after acquiring an additional 3,003 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price 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. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the company’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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $208.35 on Friday. General Electric has a 12 month low of $113.88 and a 12 month high of $211.42. The stock has a market cap of $223.62 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company’s fifty day moving average price is $181.29 and its 200-day moving average price is $178.78.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. On average, equities analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

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.