Sonora Investment Management Group LLC Grows Position in General Electric (NYSE:GE)

Sonora Investment Management Group LLC grew its stake in shares of General Electric (NYSE:GE) by 11.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,019 shares of the conglomerate’s stock after purchasing an additional 204 shares during the period. Sonora Investment Management Group LLC’s holdings in General Electric were worth $337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Jennison Associates LLC boosted its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. grew its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp increased its holdings in General Electric by 2.1% during the 3rd 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 in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on GE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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 research note on Monday, January 27th. Finally, Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Down 1.0 %

Shares of NYSE GE opened at $203.59 on Friday. The stock has a market capitalization of $220.35 billion, a PE ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. 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 firm has a fifty day moving average of $176.96 and a 200-day moving average of $176.00. General Electric has a 52-week low of $105.70 and a 52-week 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, beating analysts’ consensus estimates 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, analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. 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.