Purus Wealth Management LLC Boosts Stake in General Electric (NYSE:GE)

Purus Wealth Management LLC lifted its stake in General Electric (NYSE:GE) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,136 shares of the conglomerate’s stock after acquiring an additional 137 shares during the quarter. Purus Wealth Management LLC’s holdings in General Electric were worth $523,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the third quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the 3rd quarter worth approximately $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of General Electric stock opened at $182.83 on Monday. The stock has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average price is $174.33 and its 200 day moving average price is $174.08.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’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 of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GE has been the topic of a number of recent research reports. Citigroup lifted their price objective 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. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target 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. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

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.