Hobart Private Capital LLC Invests $245,000 in General Electric (NYSE:GE)

Hobart Private Capital LLC bought a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,468 shares of the conglomerate’s stock, valued at approximately $245,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at about $27,000. Hager Investment Management Services LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.4 %

NYSE:GE opened at $205.32 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $220.37 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The stock has a fifty day simple moving average of $179.68 and a 200-day simple moving average of $177.85. General Electric has a 52-week low of $110.57 and a 52-week high of $207.84.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, equities research analysts expect that General Electric will post 5.39 earnings per share 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is currently 18.70%.

Insider Transactions at General Electric

In other General Electric 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 value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

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.