Wingate Wealth Advisors Inc. Purchases New Position in General Electric (NYSE:GE)

Wingate Wealth Advisors Inc. acquired a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 895 shares of the conglomerate’s stock, valued at approximately $149,000.

Other institutional investors have also modified their holdings of the company. LongView Wealth Management acquired a new position in General Electric during the third quarter worth approximately $225,000. Westend Capital Management LLC increased its holdings in shares of General Electric by 52.8% in the 3rd quarter. Westend Capital Management LLC now owns 79,229 shares of the conglomerate’s stock valued at $14,941,000 after acquiring an additional 27,372 shares during the period. Exchange Traded Concepts LLC raised its position in General Electric by 8.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 62,257 shares of the conglomerate’s stock valued at $11,740,000 after purchasing an additional 4,787 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in General Electric by 2.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 12,168 shares of the conglomerate’s stock worth $2,295,000 after purchasing an additional 277 shares during the period. Finally, Exchange Bank grew its position in General Electric by 2.7% during the 3rd quarter. Exchange Bank now owns 2,894 shares of the conglomerate’s stock worth $546,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was 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. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GE shares. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered 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. 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 report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Performance

GE opened at $205.32 on Monday. The stock’s 50 day simple moving average is $179.68 and its 200 day simple moving average is $177.89. The stock has a market cap of $220.37 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 1-year low of $110.57 and a 1-year high of $207.84. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. As a group, equities analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced 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. 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%.

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.