Ballentine Partners LLC Acquires 374 Shares of General Electric (NYSE:GE)

Ballentine Partners LLC lifted its holdings in General Electric (NYSE:GE) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,772 shares of the conglomerate’s stock after buying an additional 374 shares during the quarter. Ballentine Partners LLC’s holdings in General Electric were worth $3,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new position in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the third quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GE. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Up 1.7 %

NYSE:GE opened at $182.83 on Tuesday. The stock has a 50-day simple moving average of $174.33 and a 200 day simple moving average of $174.16. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80. The company has a market cap of $197.87 billion, a PE ratio of 32.13, a PEG ratio of 1.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping 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 company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’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 sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.