Park Avenue Securities LLC Has $9.84 Million Stock Holdings in General Electric (NYSE:GE)

Park Avenue Securities LLC grew its stake in General Electric (NYSE:GE) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,009 shares of the conglomerate’s stock after acquiring an additional 10,940 shares during the period. Park Avenue Securities LLC’s holdings in General Electric were worth $9,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kathmere Capital Management LLC raised its position in General Electric by 11.8% during the fourth quarter. Kathmere Capital Management LLC now owns 4,331 shares of the conglomerate’s stock worth $722,000 after acquiring an additional 456 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of General Electric by 14.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 16,584 shares of the conglomerate’s stock worth $2,766,000 after purchasing an additional 2,080 shares during the last quarter. Community Trust & Investment Co. raised its holdings in shares of General Electric by 6.7% in the 4th quarter. Community Trust & Investment Co. now owns 1,695 shares of the conglomerate’s stock valued at $283,000 after purchasing an additional 107 shares during the period. Pines Wealth Management LLC acquired a new stake in General Electric in the 4th quarter valued at about $365,000. Finally, Breakwater Capital Group lifted its stake in General Electric by 1.2% in the 4th quarter. Breakwater Capital Group now owns 7,545 shares of the conglomerate’s stock valued at $1,258,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 3.0 %

Shares of NYSE:GE opened at $176.77 on Wednesday. The business’s 50 day simple moving average is $174.37 and its 200 day simple moving average is $173.74. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $191.32 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. On average, research analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is presently 19.68%.

General Electric Company 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.