Ritholtz Wealth Management Acquires 1,217 Shares of General Electric (NYSE:GE)

Ritholtz Wealth Management lifted its position in shares of General Electric (NYSE:GE) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,058 shares of the conglomerate’s stock after acquiring an additional 1,217 shares during the quarter. Ritholtz Wealth Management’s holdings in General Electric were worth $2,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Moneta Group Investment Advisors LLC grew its stake in shares of General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares during the period. Norges Bank acquired a new position in General Electric in the fourth quarter valued at about $635,274,000. State Street Corp grew its stake in General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after acquiring an additional 7,157,356 shares during the period. Brown Advisory Inc. grew its stake in General Electric by 265.7% in the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after acquiring an additional 2,185,793 shares during the period. Finally, Renaissance Technologies LLC grew its stake in General Electric by 1,728.5% in the second quarter. Renaissance Technologies LLC now owns 1,782,245 shares of the conglomerate’s stock valued at $195,780,000 after acquiring an additional 1,684,777 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Barclays upped their price objective on General Electric from $153.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Jefferies Financial Group upped their price objective on General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Citigroup upped their price objective on General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, StockNews.com started coverage on General Electric in a research report on Thursday. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.54.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on 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 owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

NYSE:GE traded down $4.65 on Thursday, hitting $175.47. The company’s stock had a trading volume of 9,672,918 shares, compared to its average volume of 6,076,438. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average of $151.58 and a two-hundred day moving average of $129.37. The firm has a market capitalization of $191.84 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. General Electric has a one year low of $93.47 and a one year high of $180.36.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Research analysts predict that General Electric will post 4.57 earnings per share for the current year.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.