Kestra Private Wealth Services LLC Grows Position in General Electric (NYSE:GE)

Kestra Private Wealth Services LLC boosted its holdings in General Electric (NYSE:GE) by 48.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,250 shares of the conglomerate’s stock after acquiring an additional 10,559 shares during the period. Kestra Private Wealth Services LLC’s holdings in General Electric were worth $5,379,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in 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 purchasing an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the 4th quarter valued at $733,000. State Street Corp lifted 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 during the period. Soltis Investment Advisors LLC boosted 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 buying an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after acquiring an additional 5,162 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GE shares. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Stock Performance

NYSE GE opened at $205.32 on Monday. 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 has a twelve month low of $110.57 and a twelve month high of $207.84. The business has a 50-day moving average price of $179.68 and a 200-day moving average price of $177.89. The firm has a market cap of $220.37 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s payout ratio is currently 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.