Leavell Investment Management Inc. Raises Stock Position in General Electric (NYSE:GE)

Leavell Investment Management Inc. grew its holdings in General Electric (NYSE:GE) by 35.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,472 shares of the conglomerate’s stock after buying an additional 3,003 shares during the period. Leavell Investment Management Inc.’s holdings in General Electric were worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Jennison Associates LLC grew its stake in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after buying an additional 106,891 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after buying an additional 413,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after buying an additional 457,038 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 0.4 %

NYSE:GE opened at $209.71 on Thursday. General Electric has a one year low of $110.95 and a one year high of $211.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market cap of $225.08 billion, a P/E ratio of 35.01, a P/E/G ratio of 2.56 and a beta of 1.22. The firm has a 50-day simple moving average of $180.75 and a 200-day simple moving average of $178.56.

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

General Electric Announces Dividend

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

Insider Activity

In other news, 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GE shares. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup raised their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three 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 has an average rating of “Moderate Buy” and an average price target of $208.73.

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.