Berbice Capital Management LLC Purchases New Stake in General Electric (NYSE:GE)

Berbice Capital Management LLC purchased a new stake in General Electric (NYSE:GE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 800 shares of the conglomerate’s stock, valued at approximately $133,000.

A number of other institutional investors have also recently modified their holdings of GE. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric during the third quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the third quarter worth $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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 report on Wednesday, October 23rd. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $203.80.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,267,910.00. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 1.8 %

Shares of General Electric stock opened at $197.12 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $174.49 and its 200-day simple moving average is $174.59. The stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Equities research analysts forecast that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 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.