Stoneridge Investment Partners LLC Purchases New Stake in General Electric (NYSE:GE)

Stoneridge Investment Partners LLC acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,255 shares of the conglomerate’s stock, valued at approximately $2,544,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the 4th quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric during the third quarter worth $28,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GE. Deutsche Bank Aktiengesellschaft dropped their target price 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. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Down 0.4 %

GE stock opened at $205.32 on Friday. The firm’s 50-day moving average is $179.68 and its two-hundred day moving average is $177.85. The company has a market capitalization of $220.37 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. General Electric has a 52 week low of $110.57 and a 52 week high of $207.84. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate 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 forecast that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is currently 18.70%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the firm’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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $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 SEC, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

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.