Golden State Equity Partners Grows Stake in General Electric (NYSE:GE)

Golden State Equity Partners raised its stake in General Electric (NYSE:GE) by 255.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,236 shares of the conglomerate’s stock after purchasing an additional 888 shares during the quarter. Golden State Equity Partners’ holdings in General Electric were worth $206,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC grew its stake in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at about $733,000. State Street Corp grew its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE opened at $202.19 on Wednesday. The business’s 50 day moving average is $177.89 and its 200-day moving average is $176.86. The stock has a market cap of $218.83 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $108.60 and a twelve month high of $207.65.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric 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 in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate 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.