Bleakley Financial Group LLC Buys 3,575 Shares of General Electric (NYSE:GE)

Bleakley Financial Group LLC increased its position in shares of General Electric (NYSE:GE) by 11.5% during the 4th quarter, Holdings Channel reports. The fund owned 34,626 shares of the conglomerate’s stock after buying an additional 3,575 shares during the quarter. Bleakley Financial Group LLC’s holdings in General Electric were worth $5,775,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC grew its holdings in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC bought a new position in General Electric during the fourth quarter worth about $733,000. State Street Corp grew its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Soltis Investment Advisors LLC increased its holdings in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC raised its position in shares of General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $204.44 on Thursday. General Electric has a 52-week low of $109.26 and a 52-week high of $207.65. The stock has a market cap of $221.26 billion, a PE ratio of 34.13, a P/E/G ratio of 2.53 and a beta of 1.21. The firm has a 50-day moving average of $178.24 and a 200-day moving average of $177.16. 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 (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America boosted 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. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.73.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction 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. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by company 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.