Naviter Wealth LLC Buys 1,280 Shares of General Electric (NYSE:GE)

Naviter Wealth LLC lifted its position in General Electric (NYSE:GE) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,872 shares of the conglomerate’s stock after buying an additional 1,280 shares during the quarter. Naviter Wealth LLC’s holdings in General Electric were worth $1,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Halpern Financial Inc. lifted its holdings in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC raised its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC boosted its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC acquired a new stake in General Electric during the 4th quarter worth approximately $32,000. 74.77% of the stock is owned by institutional investors.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $163.75 on Tuesday. The stock has a market cap of $179.24 billion, a price-to-earnings ratio of 53.93, a P/E/G ratio of 2.90 and a beta of 1.29. General Electric has a twelve month low of $77.93 and a twelve month high of $166.07. The company’s fifty day moving average is $161.02 and its 200 day moving average is $136.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts forecast that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GE. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus boosted their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

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.