General Electric (NYSE:GE) Stake Boosted by Herbst Group LLC

Herbst Group LLC boosted its stake in General Electric (NYSE:GE) by 125.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,981 shares of the conglomerate’s stock after buying an additional 16,111 shares during the period. General Electric accounts for approximately 3.0% of Herbst Group LLC’s portfolio, making the stock its 8th largest position. Herbst Group LLC’s holdings in General Electric were worth $4,834,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in General Electric in the 2nd quarter worth about $556,000. Seven Eight Capital LP bought a new stake in General Electric in the 2nd quarter worth approximately $560,000. ProVise Management Group LLC raised its stake in General Electric by 18.8% during the 2nd quarter. ProVise Management Group LLC now owns 2,787 shares of the conglomerate’s stock valued at $443,000 after buying an additional 442 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of General Electric by 1.3% in the 2nd quarter. Brighton Jones LLC now owns 8,020 shares of the conglomerate’s stock worth $1,275,000 after buying an additional 106 shares during the last quarter. Finally, Ieq Capital LLC increased its position in General Electric by 4.6% during the second quarter. Ieq Capital LLC now owns 42,347 shares of the conglomerate’s stock valued at $6,732,000 after acquiring an additional 1,868 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GE. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

General Electric stock opened at $182.83 on Friday. The company’s 50-day moving average price is $174.33 and its 200-day moving average price is $174.00. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

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

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 $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. Insiders own 0.66% of the company’s stock.

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.