Peak Financial Management Inc. Boosts Stock Position in General Electric (NYSE:GE)

Peak Financial Management Inc. increased its stake in General Electric (NYSE:GE) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,370 shares of the conglomerate’s stock after purchasing an additional 301 shares during the quarter. Peak Financial Management Inc.’s holdings in General Electric were worth $395,000 at the end of the most recent quarter.

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

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.80.

General Electric Price Performance

GE opened at $196.81 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65. The stock’s 50 day simple moving average is $175.33 and its 200 day simple moving average is $175.08. The firm has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG 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 earnings per share (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%. As a group, analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 18.70%.

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.