Galvin Gaustad & Stein LLC Acquires Shares of 44,267 General Electric (NYSE:GE)

Galvin Gaustad & Stein LLC acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 44,267 shares of the conglomerate’s stock, valued at approximately $7,383,000.

A number of other large investors have also added to or reduced their stakes in GE. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’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 value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

General Electric Price Performance

Shares of General Electric stock opened at $205.06 on Thursday. The stock’s 50-day simple moving average is $174.49 and its 200-day simple moving average is $174.59. General Electric has a 52 week low of $101.16 and a 52 week high of $202.50. The company has a market capitalization of $221.93 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. As a group, analysts expect that General Electric will post 4.23 earnings per share 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. Investors of record on Friday, December 27th will be given 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 0.55%. General Electric’s dividend payout ratio is currently 19.68%.

General Electric 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.