Old North State Wealth Management LLC Purchases 58 Shares of General Electric (NYSE:GE)

Old North State Wealth Management LLC raised its position in shares of General Electric (NYSE:GE) by 3.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,981 shares of the conglomerate’s stock after acquiring an additional 58 shares during the quarter. Old North State Wealth Management LLC’s holdings in General Electric were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. 1858 Wealth Management LLC increased its position in shares of General Electric by 19.8% in the fourth quarter. 1858 Wealth Management LLC now owns 9,268 shares of the conglomerate’s stock worth $1,546,000 after purchasing an additional 1,529 shares during the last quarter. Greenwood Capital Associates LLC lifted its position in General Electric by 8.7% in the 4th quarter. Greenwood Capital Associates LLC now owns 27,752 shares of the conglomerate’s stock worth $4,629,000 after buying an additional 2,210 shares during the last quarter. James J. Burns & Company LLC boosted its stake in General Electric by 65.6% in the fourth quarter. James J. Burns & Company LLC now owns 1,846 shares of the conglomerate’s stock worth $308,000 after buying an additional 731 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in General Electric by 35.8% during the fourth quarter. Brown Lisle Cummings Inc. now owns 2,086 shares of the conglomerate’s stock valued at $348,000 after acquiring an additional 550 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of General Electric by 29.5% during the fourth quarter. Calamos Wealth Management LLC now owns 16,089 shares of the conglomerate’s stock worth $2,683,000 after acquiring an additional 3,663 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of analyst reports. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.73.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

General Electric Trading Down 0.9 %

NYSE:GE opened at $202.19 on Wednesday. The stock has a fifty day moving average price of $177.89 and a 200 day moving average price of $176.86. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $108.60 and a 12-month high of $207.65. The firm has a market cap of $218.83 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is presently 18.70%.

General Electric 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.