Wallace Advisory Group LLC Takes $206,000 Position in General Electric (NYSE:GE)

Wallace Advisory Group LLC acquired a new position in shares of General Electric (NYSE:GE) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,235 shares of the conglomerate’s stock, valued at approximately $206,000.

Several other large investors have also modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter valued at approximately $30,000. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

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

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

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.