HB Wealth Management LLC Purchases 1,298 Shares of General Electric (NYSE:GE)

HB Wealth Management LLC raised its holdings in shares of General Electric (NYSE:GE) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,652 shares of the conglomerate’s stock after acquiring an additional 1,298 shares during the quarter. HB Wealth Management LLC’s holdings in General Electric were worth $3,612,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Seven Eight Capital LP bought a new position in shares of General Electric during the 2nd quarter valued at approximately $560,000. Benjamin F. Edwards & Company Inc. lifted its position in General Electric by 8.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock valued at $1,847,000 after purchasing an additional 936 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of General Electric by 6.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after buying an additional 87 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of General Electric by 78.6% in the 2nd quarter. AE Wealth Management LLC now owns 31,287 shares of the conglomerate’s stock worth $4,974,000 after buying an additional 13,767 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of General Electric by 10.2% during the 2nd quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after buying an additional 10,609 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Performance

Shares of General Electric stock opened at $182.83 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average price is $174.33 and its 200 day moving average price is $174.08. The company has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. General Electric has a one year low of $101.16 and a one year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is presently 19.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

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.