Ballentine Partners LLC Has $3.63 Million Holdings in General Electric (NYSE:GE)

Ballentine Partners LLC grew its holdings in General Electric (NYSE:GE) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,772 shares of the conglomerate’s stock after buying an additional 374 shares during the period. Ballentine Partners LLC’s holdings in General Electric were worth $3,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Pure Financial Advisors LLC boosted its position in General Electric by 3.8% during the fourth quarter. Pure Financial Advisors LLC now owns 3,384 shares of the conglomerate’s stock worth $564,000 after purchasing an additional 123 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of General Electric by 2.7% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,472 shares of the conglomerate’s stock worth $1,079,000 after buying an additional 173 shares during the last quarter. Zhang Financial LLC bought a new stake in shares of General Electric during the 4th quarter worth about $295,000. Purus Wealth Management LLC grew its stake in General Electric by 4.6% in the 4th quarter. Purus Wealth Management LLC now owns 3,136 shares of the conglomerate’s stock valued at $523,000 after buying an additional 137 shares during the last quarter. Finally, BigSur Wealth Management LLC raised its holdings in General Electric by 14.9% in the 4th quarter. BigSur Wealth Management LLC now owns 15,387 shares of the conglomerate’s stock valued at $2,571,000 after acquiring an additional 2,000 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GE. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction 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 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. 0.66% of the stock is owned by insiders.

General Electric Price Performance

Shares of NYSE:GE opened at $182.83 on Tuesday. The firm has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80. The firm’s fifty day moving average is $174.33 and its 200-day moving average is $174.16. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Sell-side analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

About General Electric

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.