Angeles Wealth Management LLC Acquires 187 Shares of General Electric (NYSE:GE)

Angeles Wealth Management LLC grew its holdings in shares of General Electric (NYSE:GE) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,280 shares of the conglomerate’s stock after acquiring an additional 187 shares during the quarter. Angeles Wealth Management LLC’s holdings in General Electric were worth $547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GE. Jennison Associates LLC boosted its position in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. grew its position in General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp increased its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GE shares. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group raised their price target 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. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.73.

General Electric Price Performance

Shares of NYSE:GE opened at $205.32 on Monday. General Electric has a fifty-two week low of $110.57 and a fifty-two week high of $207.84. The company’s 50-day moving average is $179.68 and its 200 day moving average is $177.89. The company has a market capitalization of $220.37 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts forecast that General Electric will post 5.39 earnings per share for the current 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

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.