Concord Asset Management LLC VA Has $1.56 Million Stake in General Electric (NYSE:GE)

Concord Asset Management LLC VA lifted its holdings in shares of General Electric (NYSE:GE) by 129.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,337 shares of the conglomerate’s stock after purchasing an additional 5,262 shares during the quarter. Concord Asset Management LLC VA’s holdings in General Electric were worth $1,557,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. bought a new stake in General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter worth approximately $30,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GE shares. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

NYSE GE opened at $203.59 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $220.35 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. The firm has a 50-day moving average price of $177.41 and a two-hundred day moving average price of $176.30. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65.

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

General Electric Dividend Announcement

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

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction 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 in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is 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.