Crossmark Global Holdings Inc. Increases Stake in General Electric (NYSE:GE)

Crossmark Global Holdings Inc. raised its holdings in General Electric (NYSE:GE) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,231 shares of the conglomerate’s stock after buying an additional 116 shares during the period. Crossmark Global Holdings Inc.’s holdings in General Electric were worth $6,877,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Catalyst Capital Advisors LLC boosted its holdings in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp boosted its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the period. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter worth about $733,000. State Street Corp increased its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Finally, Soltis Investment Advisors LLC raised its holdings in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 2.5 %

GE stock opened at $187.46 on Wednesday. The company has a market cap of $202.89 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. The company has a fifty day moving average price of $174.30 and a 200 day moving average price of $174.30. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 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 company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business posted $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average 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.