Liberty Wealth Management LLC bought a new stake in General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,719 shares of the conglomerate’s stock, valued at approximately $73,000.
A number of other institutional investors also recently modified their holdings of GE. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in General Electric by 250.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new stake in shares of General Electric in the fourth quarter valued at about $27,000. Arbor Wealth Management LLC acquired a new stake in shares of General Electric in the fourth quarter valued at about $30,000. Edge Wealth Management LLC boosted its holdings in General Electric by 47.4% in the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 1,300 shares during the last quarter. Finally, SevenBridge Financial Group LLC boosted its holdings in General Electric by 100.4% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 2,101 shares during the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.
Shares of NYSE GE traded up $0.13 during mid-day trading on Monday, reaching $10.63. 39,914,992 shares of the company’s stock traded hands, compared to its average volume of 80,524,102. The business has a 50-day moving average of $10.02. The company has a market capitalization of $91.57 billion, a PE ratio of 16.35, a P/E/G ratio of 2.39 and a beta of 1.03. General Electric has a 1-year low of $6.66 and a 1-year high of $14.29. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, June 28th. General Electric’s dividend payout ratio is currently 6.15%.
In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $250,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.
A number of research analysts have commented on the company. Citigroup set a $14.00 target price on General Electric and gave the stock a “buy” rating in a report on Wednesday, June 19th. William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, May 20th. Deutsche Bank set a $10.00 target price on General Electric and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Cowen reiterated a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $11.89.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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