Mission Wealth Management LP Has $1.06 Million Stock Position in General Electric (NYSE:GE)

Mission Wealth Management LP grew its stake in General Electric (NYSE:GE) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,314 shares of the conglomerate’s stock after purchasing an additional 463 shares during the period. Mission Wealth Management LP’s holdings in General Electric were worth $1,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC raised its stake in shares of General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC boosted its holdings in General Electric by 9.3% during the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $1,846,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. StockNews.com began coverage on General Electric in a research note on Monday. They issued a “hold” rating on the stock. Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group lifted their target price on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Barclays decreased their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling at General Electric

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

General Electric Stock Performance

Shares of NYSE:GE opened at $159.70 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 1-year low of $77.93 and a 1-year high of $166.26. The stock has a market capitalization of $174.81 billion, a P/E ratio of 52.36, a P/E/G ratio of 2.88 and a beta of 1.25. The business has a 50-day moving average price of $161.50 and a two-hundred day moving average price of $137.33.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.