Marcum Wealth LLC Grows Stock Holdings in General Electric (NYSE:GE)

Marcum Wealth LLC raised its stake in General Electric (NYSE:GEFree Report) by 12.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,535 shares of the conglomerate’s stock after buying an additional 391 shares during the period. Marcum Wealth LLC’s holdings in General Electric were worth $590,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter valued at about $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GE shares. Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.47.

Read Our Latest Analysis on General Electric

General Electric Stock Up 3.0 %

NYSE:GE opened at $176.77 on Wednesday. The company has a market cap of $191.32 billion, a PE ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. 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 company’s 50 day moving average is $174.37 and its two-hundred day moving average is $173.74.

General Electric (NYSE:GEGet Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. Analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

General Electric Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GEFree Report).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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