Peak Financial Management Inc. Raises Stock Holdings in General Electric (NYSE:GE)

Peak Financial Management Inc. raised its position in shares of General Electric (NYSE:GE) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,370 shares of the conglomerate’s stock after purchasing an additional 301 shares during the period. Peak Financial Management Inc.’s holdings in General Electric were worth $395,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jamison Private Wealth Management Inc. grew its stake in shares of General Electric by 1.2% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 12,199 shares of the conglomerate’s stock worth $2,035,000 after buying an additional 140 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in General Electric by 100.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 313 shares of the conglomerate’s stock worth $52,000 after acquiring an additional 157 shares in the last quarter. Grimes & Company Inc. grew its stake in shares of General Electric by 0.6% in the fourth quarter. Grimes & Company Inc. now owns 13,981 shares of the conglomerate’s stock worth $2,332,000 after acquiring an additional 79 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of General Electric by 3.2% during the fourth quarter. Fifth Third Bancorp now owns 424,718 shares of the conglomerate’s stock valued at $70,839,000 after acquiring an additional 13,177 shares in the last quarter. Finally, Hillcrest Wealth Advisors NY LLC purchased a new position in shares of General Electric in the 4th quarter worth about $2,053,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $196.81 on Monday. The company has a 50-day moving average price of $175.33 and a 200-day moving average price of $175.08. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $213.00 billion, a P/E ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.57%. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate 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.