Western Financial Corp CA Has $2.59 Million Stake in General Electric (NYSE:GE)

Western Financial Corp CA raised its holdings in General Electric (NYSE:GEFree Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,515 shares of the conglomerate’s stock after buying an additional 988 shares during the period. General Electric comprises approximately 1.4% of Western Financial Corp CA’s investment portfolio, making the stock its 8th biggest holding. Western Financial Corp CA’s holdings in General Electric were worth $2,588,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. International Assets Investment Management LLC grew its stake in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC increased its position in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. raised its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, State Street Corp boosted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 1.0 %

NYSE GE opened at $203.59 on Friday. The company has a market cap of $220.35 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19. General Electric has a twelve month low of $105.70 and a twelve month high of $207.65. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $177.41 and its 200 day moving average is $176.30.

General Electric (NYSE:GEGet Free Report) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio is currently 18.70%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of General Electric 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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value 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. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Sanford C. Bernstein increased their target price 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 boosted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Get Our Latest Analysis on GE

General Electric 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

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

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