M.E. Allison & CO. Inc. Makes New Investment in General Electric (NYSE:GE)

M.E. Allison & CO. Inc. bought a new position in shares of General Electric (NYSE:GE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,665 shares of the conglomerate’s stock, valued at approximately $444,000.

Other hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in General Electric during the second quarter valued at about $560,000. Benjamin F. Edwards & Company Inc. boosted its holdings in General Electric by 8.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock valued at $1,847,000 after acquiring an additional 936 shares during the period. Benjamin Edwards Inc. boosted its holdings in General Electric by 6.8% during the second quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 87 shares during the period. AE Wealth Management LLC boosted its holdings in General Electric by 78.6% during the second quarter. AE Wealth Management LLC now owns 31,287 shares of the conglomerate’s stock valued at $4,974,000 after acquiring an additional 13,767 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in General Electric by 10.2% during the second quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after acquiring an additional 10,609 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GE shares. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Trading Up 1.7 %

Shares of NYSE GE opened at $182.83 on Monday. The company’s fifty day moving average is $174.33 and its 200-day moving average is $174.08. The stock has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a P/E/G 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. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

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

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.