General Electric (NYSE:GE) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC boosted its position in shares of General Electric (NYSE:GE) by 466.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,933 shares of the conglomerate’s stock after purchasing an additional 19,710 shares during the period. RWA Wealth Partners LLC’s holdings in General Electric were worth $3,055,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GE. Prime Capital Investment Advisors LLC lifted its position in shares of General Electric by 29.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after buying an additional 6,419 shares during the last quarter. Fifth Third Bancorp lifted its position in General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after purchasing an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after purchasing an additional 10,722 shares during the last quarter. Grandfield & Dodd LLC lifted its position in General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the last quarter. Finally, Hoey Investments Inc. lifted its position in General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock valued at $2,493,000 after purchasing an additional 22,507 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE opened at $162.62 on Wednesday. The firm’s 50 day moving average is $159.94 and its 200-day moving average is $135.39. The stock has a market capitalization of $177.79 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.96 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. General Electric has a 12-month low of $76.87 and a 12-month high of $163.65.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. Equities research analysts anticipate that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 13.38%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of General Electric in a research report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price objective on the stock. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Bank of America cut their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Finally, Jefferies Financial Group lowered their target price on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued 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 $160.07.

Insider Transactions at General Electric

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

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.