Western Wealth Management LLC Grows Stock Position in General Electric (NYSE:GE)

Western Wealth Management LLC lifted its stake in General Electric (NYSE:GE) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,931 shares of the conglomerate’s stock after buying an additional 349 shares during the period. Western Wealth Management LLC’s holdings in General Electric were worth $1,523,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Halpern Financial Inc. grew its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. CGC Financial Services LLC grew its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC grew its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the last quarter. Macroview Investment Management LLC grew its stake in shares of General Electric by 43.4% in the third quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 96 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in shares of General Electric in the third quarter worth about $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Barclays reduced their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group initiated coverage on General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Stock Performance

Shares of GE opened at $148.09 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $159.32 and its 200-day moving average price is $134.37. General Electric has a 52 week low of $76.87 and a 52 week high of $158.68. The stock has a market cap of $161.90 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.00 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. Equities research analysts anticipate that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.76%. General Electric’s dividend payout ratio is 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric 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.