SMART Wealth LLC Acquires 1,471 Shares of General Electric (NYSE:GE)

SMART Wealth LLC grew its holdings in shares of General Electric (NYSE:GE) by 78.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,346 shares of the conglomerate’s stock after acquiring an additional 1,471 shares during the quarter. SMART Wealth LLC’s holdings in General Electric were worth $558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Fairvoy Private Wealth LLC bought a new stake in General Electric during the fourth quarter valued at approximately $235,000. Ameliora Wealth Management Ltd. raised its position in shares of General Electric by 400.6% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 1,562 shares of the conglomerate’s stock valued at $261,000 after buying an additional 1,250 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of General Electric by 9.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,632 shares of the conglomerate’s stock worth $4,448,000 after acquiring an additional 2,200 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in General Electric by 5.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 132,918 shares of the conglomerate’s stock worth $22,169,000 after acquiring an additional 7,213 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in General Electric in the fourth quarter valued at $228,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock opened at $206.00 on Friday. The business’s fifty day moving average is $178.72 and its 200 day moving average is $177.35. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $222.95 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.53 and a beta of 1.21. General Electric has a twelve month low of $110.34 and a twelve month high of $207.65.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Research analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. General Electric’s payout ratio is 18.70%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Transactions at General Electric

In other 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 transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

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.