General Electric (NYSE:GE) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its holdings in General Electric (NYSE:GE) by 15.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,994 shares of the conglomerate’s stock after purchasing an additional 3,065 shares during the period. CreativeOne Wealth LLC’s holdings in General Electric were worth $4,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Studio Investment Management LLC grew its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GE. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’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 transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $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. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 2.2 %

Shares of GE stock opened at $180.61 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. The firm’s fifty day moving average price is $183.23 and its two-hundred day moving average price is $171.44. The firm has a market capitalization of $195.47 billion, a P/E ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

General Electric Company Profile

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.