Fifth Third Wealth Advisors LLC Raises Position in General Electric (NYSE:GE)

Fifth Third Wealth Advisors LLC increased its position in shares of General Electric (NYSE:GE) by 14.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,584 shares of the conglomerate’s stock after purchasing an additional 2,080 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in General Electric were worth $2,766,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Newport Trust Company LLC acquired a new stake in shares of General Electric in the 2nd quarter worth $2,613,332,000. Jennison Associates LLC grew its holdings in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter worth about $580,200,000. International Assets Investment Management LLC increased its holdings in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $176.77 on Wednesday. General Electric has a 12 month low of $100.95 and a 12 month high of $194.80. The firm has a market capitalization of $191.32 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company’s fifty day moving average price is $174.37 and its 200 day moving average price is $173.74.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Ratings Changes

GE has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction 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 approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric 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.