Sen. Shelley Moore Capito Buys General Electric (NYSE:GE) Shares

Senator Shelley Moore Capito (R-West Virginia) recently bought shares of General Electric (NYSE:GE). In a filing disclosed on January 06th, the Senator disclosed that they had bought between $1,001 and $15,000 in General Electric stock on December 27th.

Senator Shelley Moore Capito also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 12/16/2024.
• Sold $1,001 – $15,000 in shares of Lowe’s Companies (NYSE:LOW) on 12/13/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Carlisle Companies (NYSE:CSL) on 10/8/2024.

General Electric Price Performance

Shares of GE opened at $172.85 on Thursday. The firm has a 50-day simple moving average of $174.32 and a two-hundred day simple moving average of $173.28. The stock has a market cap of $187.07 billion, a PE ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $100.95 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. General Electric’s payout ratio is currently 19.68%.

Analyst Ratings Changes

GE has been the topic of several research reports. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday. They set a “neutral” rating on the stock. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GE. Newport Trust Company LLC purchased a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Jennison Associates LLC lifted its stake in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of General Electric in the second quarter valued at about $580,200,000. International Assets Investment Management LLC increased its stake in shares of General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. raised its holdings in General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

About Senator Capito

Shelley Moore Capito (Republican Party) is a member of the U.S. Senate from West Virginia. She assumed office on January 3, 2015. Her current term ends on January 3, 2027. Capito (Republican Party) ran for re-election to the U.S. Senate to represent West Virginia. She won in the general election on November 3, 2020. Capito was first elected to the Senate in 2014, becoming the first female U.S. Senator in the state’s history. Prior to serving in the Senate, Capito was a member of the West Virginia House of Representatives from 1997 to 2001 and a member of the United States House of Representatives from 2001 to 2015. At the start of the 116th Congress, Capito was a member of the U.S. Senate committees on Appropriations, Commerce, Science, and Transportation, Environment and Public Works, and Rules and Administration. As of a 2014 analysis of multiple outside rankings, Capito is a more moderate right of center Republican Party vote. As a result, she may break with the Republican Party line more than her fellow members. Capito earned her bachelor’s degree from Duke University. After earning her M.Ed. from the University of Virginia, Capito was a college counselor and then director of an educational information center. She was the only Republican in the West Virginia congressional delegation until the 2010 elections and is the first Republican woman elected to Congress from West Virginia. Capito is a former chairwoman of the Congressional Caucus for Women’s Issues, as well as a member of the Congressional Arts Caucus. After an explosion responsible for the death of 29 coal workers, Capito founded the Congressional Coal Caucus. Prior to her election to the U.S. House, Capito served in the West Virginia House of Delegates.

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.