SMART Wealth LLC Raises Stock Holdings in General Electric (NYSE:GE)

SMART Wealth LLC grew its stake in shares of General Electric (NYSE:GE) by 78.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,346 shares of the conglomerate’s stock after acquiring an additional 1,471 shares during the quarter. SMART Wealth LLC’s holdings in General Electric were worth $558,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fulton Bank N.A. lifted its position in General Electric by 8.4% during the third quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock valued at $350,000 after purchasing an additional 143 shares in the last quarter. Brookstone Capital Management raised its stake in shares of General Electric by 13.5% in the third quarter. Brookstone Capital Management now owns 18,927 shares of the conglomerate’s stock worth $3,569,000 after buying an additional 2,258 shares during the period. Hoxton Planning & Management LLC bought a new position in shares of General Electric during the 3rd quarter valued at approximately $208,000. Strategic Wealth Partners Ltd. bought a new position in shares of General Electric during the 3rd quarter valued at approximately $251,000. Finally, CWM LLC increased its holdings in General Electric by 17.4% in the 3rd quarter. CWM LLC now owns 141,690 shares of the conglomerate’s stock worth $26,720,000 after acquiring an additional 21,019 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Stock Performance

Shares of GE stock opened at $206.00 on Friday. The firm has a market cap of $222.95 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.53 and a beta of 1.21. General Electric has a 52-week low of $110.34 and a 52-week high of $207.65. 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’s 50 day moving average is $178.72 and its 200 day moving average is $177.35.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is currently 18.70%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by company insiders.

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.