Johnson & White Wealth Management LLC Makes New $733,000 Investment in General Electric (NYSE:GE)

Johnson & White Wealth Management LLC purchased a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,350 shares of the conglomerate’s stock, valued at approximately $733,000.

A number of other hedge funds have also modified their holdings of GE. Thoroughbred Financial Services LLC acquired a new position in shares of General Electric during the 2nd quarter worth about $907,000. Oppenheimer Asset Management Inc. acquired a new stake in General Electric in the 2nd quarter valued at $556,000. Envestnet Asset Management Inc. lifted its holdings in shares of General Electric by 15.7% during the second quarter. Envestnet Asset Management Inc. now owns 967,639 shares of the conglomerate’s stock valued at $153,826,000 after acquiring an additional 131,033 shares during the period. Lyell Wealth Management LP boosted its stake in shares of General Electric by 7.0% in the 2nd quarter. Lyell Wealth Management LP now owns 1,525 shares of the conglomerate’s stock valued at $242,000 after purchasing an additional 100 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in General Electric by 15.5% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock valued at $5,591,000 after purchasing an additional 4,728 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 news, SVP Russell Stokes sold 15,550 shares of General Electric 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade 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 available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of 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. Insiders own 0.66% of the company’s stock.

General Electric Trading Down 0.1 %

GE opened at $171.48 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The stock has a market capitalization of $185.59 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 1.63 and a beta of 1.19. The company has a 50-day simple moving average of $174.34 and a 200 day simple moving average of $173.62.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric 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.