General Electric (NYSE:GE) Shares Acquired by New England Research & Management Inc.

New England Research & Management Inc. raised its holdings in shares of General Electric (NYSE:GE) by 174.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,975 shares of the conglomerate’s stock after purchasing an additional 5,065 shares during the period. New England Research & Management Inc.’s holdings in General Electric were worth $1,330,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GE. Susquehanna Fundamental Investments LLC acquired a new position in shares of General Electric during the second quarter worth $811,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of General Electric by 4.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,953 shares of the conglomerate’s stock valued at $10,644,000 after buying an additional 3,086 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of General Electric by 11.5% during the second quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock valued at $190,000 after buying an additional 123 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of General Electric by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 19,317 shares of the conglomerate’s stock valued at $3,071,000 after buying an additional 187 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of General Electric by 10.6% during the second quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate’s stock valued at $35,111,000 after buying an additional 21,127 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of GE opened at $198.88 on Thursday. The firm’s fifty day simple moving average is $176.00 and its 200-day simple moving average is $175.63. General Electric has a twelve month low of $104.98 and a twelve month high of $207.65. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $215.25 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GE. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Company 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.