General Electric (NYSE:GE) Shares Bought by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC grew its stake in shares of General Electric (NYSE:GE) by 38.7% in the fourth quarter, HoldingsChannel reports. The fund owned 226 shares of the conglomerate’s stock after buying an additional 63 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in General Electric were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth approximately $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $205.33 on Tuesday. The business’s 50-day moving average price is $179.68 and its two-hundred day moving average price is $178.00. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $220.38 billion, a PE ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 1-year low of $110.95 and a 1-year high of $207.84.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GE. Deutsche Bank Aktiengesellschaft lowered 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. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Citigroup raised their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’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 transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

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.