Byrne Asset Management LLC Makes New $1.81 Million Investment in General Electric (NYSE:GE)

Byrne Asset Management LLC bought a new position in General Electric (NYSE:GE) in the 4th quarter, Holdings Channel.com reports. The fund bought 10,857 shares of the conglomerate’s stock, valued at approximately $1,811,000. General Electric makes up 1.3% of Byrne Asset Management LLC’s holdings, making the stock its 19th biggest position.

Several other institutional investors have also recently made changes to their positions in the business. TFG Advisers LLC lifted its position in shares of General Electric by 7.4% in the fourth quarter. TFG Advisers LLC now owns 1,447 shares of the conglomerate’s stock worth $241,000 after buying an additional 100 shares in the last quarter. Vest Financial LLC raised its stake in General Electric by 15.0% during the fourth quarter. Vest Financial LLC now owns 9,409 shares of the conglomerate’s stock valued at $1,569,000 after purchasing an additional 1,228 shares in the last quarter. Conning Inc. grew its stake in shares of General Electric by 2.1% in the 4th quarter. Conning Inc. now owns 6,028 shares of the conglomerate’s stock worth $1,005,000 after buying an additional 123 shares in the last quarter. Appleton Partners Inc. MA increased its holdings in shares of General Electric by 1.8% in the 4th quarter. Appleton Partners Inc. MA now owns 3,722 shares of the conglomerate’s stock worth $621,000 after buying an additional 67 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of General Electric in the 4th quarter valued at about $251,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several analyst reports. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. 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 research note on Friday, January 24th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $208.73.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

General Electric Trading Down 0.4 %

NYSE:GE opened at $205.32 on Friday. The stock has a market capitalization of $220.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.53 and a beta of 1.22. General Electric has a 52 week low of $110.57 and a 52 week high of $207.84. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $179.22 and a 200 day moving average of $177.55.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. 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.