Monterey Private Wealth Inc. Has $372,000 Stock Holdings in General Electric (NYSE:GE)

Monterey Private Wealth Inc. boosted its position in General Electric (NYSE:GE) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,230 shares of the conglomerate’s stock after acquiring an additional 63 shares during the period. Monterey Private Wealth Inc.’s holdings in General Electric were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GE shares. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $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. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Performance

GE opened at $182.83 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50-day simple moving average is $174.30 and its 200 day simple moving average is $174.30. The firm has a market capitalization of $197.87 billion, a PE ratio of 32.13, a PEG ratio of 1.49 and a beta of 1.19. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business 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 firm’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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 issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s payout ratio is 19.68%.

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.