Portfolio Design Labs LLC Increases Stock Holdings in General Electric (NYSE:GE)

Portfolio Design Labs LLC lifted its holdings in shares of General Electric (NYSE:GE) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,465 shares of the conglomerate’s stock after acquiring an additional 5,747 shares during the period. General Electric accounts for about 0.8% of Portfolio Design Labs LLC’s holdings, making the stock its 29th biggest position. Portfolio Design Labs LLC’s holdings in General Electric were worth $4,081,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter valued at $27,000. Hager Investment Management Services LLC purchased a new position in General Electric in the 4th quarter valued at $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter valued at $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of analyst reports. 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. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. 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. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Trading Up 1.9 %

NYSE:GE opened at $209.03 on Wednesday. The company has a market capitalization of $224.35 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52-week low of $110.95 and a 52-week high of $209.15. The stock has a fifty day simple moving average of $180.18 and a 200-day simple moving average of $178.28.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts expect that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Announces Dividend

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