General Electric (NYSE:GE) Shares Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC boosted its position in General Electric (NYSE:GE) by 30.7% in the 4th quarter, HoldingsChannel reports. The firm owned 24,465 shares of the conglomerate’s stock after purchasing an additional 5,747 shares during the period. General Electric makes up about 0.8% of Portfolio Design Labs LLC’s holdings, making the stock its 29th largest holding. Portfolio Design Labs LLC’s holdings in General Electric were worth $4,081,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have commented on GE shares. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

GE stock opened at $209.03 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $224.35 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.56 and a beta of 1.21. General Electric has a 12-month low of $110.95 and a 12-month high of $209.15. The stock’s 50 day simple moving average is $180.18 and its 200 day simple moving average is $178.28.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts predict that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

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

About General Electric

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.