General Electric (NYSE:GE) Shares Purchased by Spire Wealth Management

Spire Wealth Management grew its stake in shares of General Electric (NYSE:GE) by 32.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,229 shares of the conglomerate’s stock after purchasing an additional 1,993 shares during the quarter. Spire Wealth Management’s holdings in General Electric were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp acquired a new stake in General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the third quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the third quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GE shares. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.2 %

GE opened at $204.03 on Tuesday. The firm has a 50 day moving average price of $177.41 and a 200 day moving average price of $176.54. The company has a market cap of $220.82 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.53 and a beta of 1.19. General Electric has a 1 year low of $108.60 and a 1 year high of $207.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is currently 18.70%.

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.