Zhang Financial LLC Invests $295,000 in General Electric (NYSE:GE)

Zhang Financial LLC purchased a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,766 shares of the conglomerate’s stock, valued at approximately $295,000.

Several other hedge funds have also recently modified their holdings of GE. Purus Wealth Management LLC boosted its holdings in General Electric by 4.6% in the 4th quarter. Purus Wealth Management LLC now owns 3,136 shares of the conglomerate’s stock worth $523,000 after buying an additional 137 shares during the period. BigSur Wealth Management LLC lifted its position in General Electric by 14.9% during the fourth quarter. BigSur Wealth Management LLC now owns 15,387 shares of the conglomerate’s stock valued at $2,571,000 after purchasing an additional 2,000 shares during the last quarter. Ervin Investment Management LLC grew its position in General Electric by 25.1% in the fourth quarter. Ervin Investment Management LLC now owns 3,709 shares of the conglomerate’s stock worth $619,000 after acquiring an additional 745 shares in the last quarter. True Link Financial Advisors LLC boosted its holdings in shares of General Electric by 12.2% in the 4th quarter. True Link Financial Advisors LLC now owns 2,470 shares of the conglomerate’s stock worth $412,000 after purchasing an additional 268 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in General Electric by 15.3% in the fourth quarter. UMB Bank n.a. now owns 8,760 shares of the conglomerate’s stock worth $1,461,000 after buying an additional 1,160 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.7 %

GE stock opened at $182.83 on Tuesday. The firm’s fifty day simple moving average is $174.33 and its 200-day simple moving average is $174.16. The company has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is presently 19.68%.

Analysts Set New Price Targets

Several research firms recently issued reports on GE. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $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. Company 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.