BNC Wealth Management LLC Purchases 7,269 Shares of General Electric (NYSE:GE)

BNC Wealth Management LLC raised its position in General Electric (NYSE:GE) by 224.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,502 shares of the conglomerate’s stock after buying an additional 7,269 shares during the quarter. BNC Wealth Management LLC’s holdings in General Electric were worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GE. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

GE stock opened at $182.83 on Friday. The firm has a 50 day moving average price of $174.33 and a 200-day moving average price of $174.00. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80. The firm has a market capitalization of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GE shares. Wells Fargo & Company upped their price objective on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insiders Place Their Bets

In related 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric 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.