Apollon Wealth Management LLC Grows Stock Holdings in General Electric (NYSE:GE)

Apollon Wealth Management LLC lifted its position in General Electric (NYSE:GE) by 61.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,327 shares of the conglomerate’s stock after purchasing an additional 6,221 shares during the quarter. Apollon Wealth Management LLC’s holdings in General Electric were worth $2,084,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC grew its position in General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC boosted its position in 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 buying an additional 10,722 shares during the period. Grandfield & Dodd LLC increased its position in shares of General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP bought a new position in shares of General Electric during the third quarter valued at about $1,846,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Barclays decreased their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company lifted their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Finally, Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric Stock Up 0.7 %

Shares of GE traded up $1.24 during mid-day trading on Wednesday, reaching $170.02. The company had a trading volume of 1,288,482 shares, compared to its average volume of 7,795,210. General Electric has a 52 week low of $78.17 and a 52 week high of $170.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $186.11 billion, a price-to-earnings ratio of 55.67, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The firm has a 50-day moving average price of $162.49 and a 200 day moving average price of $139.17.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, sell-side analysts forecast that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction 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 completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.