Janney Montgomery Scott LLC Raises Position in General Electric (NYSE:GE)

Janney Montgomery Scott LLC grew its stake in General Electric (NYSE:GE) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,491 shares of the conglomerate’s stock after purchasing an additional 9,215 shares during the quarter. Janney Montgomery Scott LLC’s holdings in General Electric were worth $26,602,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the third quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the third quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Electric in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.0 %

General Electric stock opened at $196.81 on Friday. The firm has a 50 day simple moving average of $174.93 and a 200 day simple moving average of $174.77. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $103.75 and a 1-year high of $207.65. The firm has a market capitalization of $213.00 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19.

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

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday. Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, 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 research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $205.80.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.