Waterfront Wealth Inc. Makes New $237,000 Investment in General Electric (NYSE:GE)

Waterfront Wealth Inc. bought a new stake in General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,854 shares of the conglomerate’s stock, valued at approximately $237,000.

Other large investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its position in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after buying an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its position in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after buying an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after buying an additional 10,722 shares in the last quarter. Hoey Investments Inc. lifted its position in shares of General Electric by 51,152.3% during the third quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after purchasing an additional 22,507 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of General Electric during the third quarter worth approximately $1,846,000. Institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of General Electric in a research report on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price on the stock. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

General Electric Stock Performance

GE stock traded up $2.05 during trading hours on Thursday, reaching $157.72. The stock had a trading volume of 823,745 shares, compared to its average volume of 7,908,133. The stock has a market capitalization of $172.43 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 3.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The stock has a 50-day simple moving average of $158.87 and a 200 day simple moving average of $133.96. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $158.68.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. Analysts predict that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

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.