Angeles Wealth Management LLC Increases Stake in General Electric (NYSE:GE)

Angeles Wealth Management LLC grew its stake in shares of General Electric (NYSE:GE) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,280 shares of the conglomerate’s stock after purchasing an additional 187 shares during the quarter. Angeles Wealth Management LLC’s holdings in General Electric were worth $547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GE. Catalyst Capital Advisors LLC increased its stake in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new position in General Electric during the fourth quarter valued at $733,000. State Street Corp boosted its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC increased its stake in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GE. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Down 0.4 %

NYSE GE opened at $205.32 on Monday. The stock’s 50-day moving average price is $179.68 and its 200-day moving average price is $177.89. The company has a market capitalization of $220.37 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. General Electric has a 52 week low of $110.57 and a 52 week high of $207.84. 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 (NYSE:GE) last posted its quarterly 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 predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.55%. General Electric’s dividend payout ratio is presently 18.70%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

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.