Worth Asset Management LLC Purchases 350 Shares of General Electric (NYSE:GE)

Worth Asset Management LLC raised its position in shares of General Electric (NYSE:GE) by 34.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,362 shares of the conglomerate’s stock after acquiring an additional 350 shares during the period. Worth Asset Management LLC’s holdings in General Electric were worth $150,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Prostatis Group LLC bought a new position in General Electric during the 4th quarter worth about $29,000. Silicon Valley Capital Partners bought a new position in General Electric during the 4th quarter worth about $31,000. Global Wealth Management Investment Advisory Inc. grew its holdings in General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 299 shares in the last quarter. Syverson Strege & Co grew its holdings in General Electric by 53.6% during the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 118 shares in the last quarter. Finally, Financial Freedom LLC bought a new position in General Electric during the 4th quarter worth about $32,000. Institutional investors own 74.83% of the company’s stock.

Insider Transactions at General Electric

In other news, major shareholder General Electric Pension Trust acquired 35,160 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were acquired at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Michael J. Holston sold 112,614 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the sale, the senior vice president now owns 57,923 shares of the company’s stock, valued at approximately $6,672,729.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder General Electric Pension Trust acquired 35,160 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were purchased at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wolfe Research increased their target price on shares of General Electric from $107.00 to $125.00 in a report on Wednesday, June 28th. Citigroup increased their target price on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Jefferies Financial Group increased their price target on shares of General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Barclays increased their price target on shares of General Electric from $125.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Finally, Argus increased their price target on shares of General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

General Electric Stock Performance

Shares of General Electric stock opened at $116.56 on Tuesday. The firm has a market capitalization of $126.86 billion, a P/E ratio of 13.83, a PEG ratio of 7.21 and a beta of 1.28. The company has a quick ratio of 0.90, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $112.98 and a 200 day moving average price of $104.05. General Electric has a 52 week low of $48.06 and a 52 week high of $117.96.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 EPS for the quarter, beating the consensus estimate of $0.46 by $0.22. General Electric had a net margin of 13.32% and a return on equity of 9.30%. The firm had revenue of $15.85 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the firm posted $0.78 EPS. General Electric’s revenue was up 18.6% on a year-over-year basis. Sell-side analysts expect that General Electric will post 2.29 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.32 annualized dividend and a yield of 0.27%. General Electric’s dividend payout ratio (DPR) is presently 3.80%.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.