Napa Wealth Management Takes $1.18 Million Position in General Electric (NYSE:GE)

Napa Wealth Management acquired a new position in shares of General Electric (NYSE:GE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,255 shares of the conglomerate’s stock, valued at approximately $1,180,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter worth about $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $176.94 on Monday. The company has a market cap of $191.50 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company’s 50-day moving average price is $182.29 and its 200-day moving average price is $170.71. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.