Simon Quick Advisors LLC Increases Stake in General Electric (NYSE:GE)

Simon Quick Advisors LLC grew its position in General Electric (NYSE:GE) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,806 shares of the conglomerate’s stock after buying an additional 81 shares during the period. Simon Quick Advisors LLC’s holdings in General Electric were worth $968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Beaumont Financial Advisors LLC increased its position in shares of General Electric by 5.4% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,957 shares of the conglomerate’s stock valued at $493,000 after acquiring an additional 152 shares in the last quarter. MCF Advisors LLC boosted its stake in General Electric by 36.2% during the 4th quarter. MCF Advisors LLC now owns 2,698 shares of the conglomerate’s stock valued at $451,000 after purchasing an additional 717 shares during the last quarter. Exchange Bank increased its holdings in shares of General Electric by 4.8% in the 4th quarter. Exchange Bank now owns 3,032 shares of the conglomerate’s stock worth $506,000 after purchasing an additional 138 shares in the last quarter. Monterey Private Wealth Inc. raised its stake in shares of General Electric by 2.9% in the fourth quarter. Monterey Private Wealth Inc. now owns 2,230 shares of the conglomerate’s stock worth $372,000 after purchasing an additional 63 shares during the last quarter. Finally, Transform Wealth LLC lifted its holdings in shares of General Electric by 14.3% during the fourth quarter. Transform Wealth LLC now owns 51,001 shares of the conglomerate’s stock valued at $8,521,000 after purchasing an additional 6,375 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, 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 the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Performance

GE opened at $188.20 on Thursday. The firm has a market cap of $203.69 billion, a P/E ratio of 33.08, a PEG ratio of 1.49 and a beta of 1.19. General Electric has a 1-year low of $101.16 and a 1-year high of $194.80. The company has a 50 day simple moving average of $174.39 and a two-hundred day simple moving average of $174.49. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business 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 business posted $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on GE shares. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein increased 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price target on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.