MinichMacGregor Wealth Management LLC Purchases 770 Shares of General Electric (NYSE:GE)

MinichMacGregor Wealth Management LLC boosted its position in General Electric (NYSE:GE) by 8.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,792 shares of the conglomerate’s stock after purchasing an additional 770 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in General Electric were worth $1,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GE shares. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on 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 sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Up 0.4 %

GE opened at $188.20 on Thursday. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $174.49 and its 200-day moving average price is $174.59. The company has a market cap of $203.69 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.53 and a beta of 1.19.

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

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio is presently 19.68%.

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.