Saxon Interests Inc. Increases Holdings in General Electric (NYSE:GE)

Saxon Interests Inc. raised its stake in General Electric (NYSE:GE) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,425 shares of the conglomerate’s stock after buying an additional 57 shares during the quarter. Saxon Interests Inc.’s holdings in General Electric were worth $238,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tsfg LLC raised its position in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares during the period. Strategic Advisors LLC increased its position in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares during the period. Meridian Management Co. lifted its position in General Electric by 1.2% in the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after buying an additional 61 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in General Electric by 3.0% during the third quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate’s stock worth $399,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Performance

General Electric stock opened at $181.76 on Friday. 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. The company has a fifty day moving average price of $174.36 and a two-hundred day moving average price of $173.79. The company has a market cap of $196.71 billion, a PE ratio of 31.99, a P/E/G ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results 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. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. Research analysts expect that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

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 given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.