Stonebridge Financial Group LLC Takes Position in General Electric (NYSE:GE)

Stonebridge Financial Group LLC purchased a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,014 shares of the conglomerate’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GE. Creative Planning increased its position in shares of General Electric by 9.0% during the third quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock valued at $37,071,000 after buying an additional 16,258 shares during the period. Magnus Financial Group LLC increased its holdings in General Electric by 46.9% during the 3rd quarter. Magnus Financial Group LLC now owns 3,383 shares of the conglomerate’s stock worth $638,000 after acquiring an additional 1,080 shares during the period. Petredis Investment Advisors LLC lifted its stake in General Electric by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 54,032 shares of the conglomerate’s stock worth $10,189,000 after purchasing an additional 214 shares in the last quarter. CFM Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth approximately $205,000. Finally, Opal Wealth Advisors LLC boosted its holdings in General Electric by 11.1% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,197 shares of the conglomerate’s stock valued at $226,000 after purchasing an additional 120 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’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 sale, 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 filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Up 0.4 %

Shares of NYSE GE opened at $209.71 on Thursday. The firm’s fifty day moving average is $180.75 and its 200 day moving average is $178.56. General Electric has a 52 week low of $110.95 and a 52 week high of $211.42. 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 company has a market cap of $225.08 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last posted 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%. On average, equities research analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.53%. General Electric’s dividend payout ratio is presently 18.70%.

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.