Ibex Wealth Advisors Takes $847,000 Position in General Electric (NYSE:GE)

Ibex Wealth Advisors purchased a new stake in General Electric (NYSE:GE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 5,079 shares of the conglomerate’s stock, valued at approximately $847,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB lifted its position in General Electric by 0.4% during the 4th quarter. Swedbank AB now owns 137,072 shares of the conglomerate’s stock worth $22,862,000 after acquiring an additional 511 shares during the period. Orrstown Financial Services Inc. lifted its position in General Electric by 12.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 11,356 shares of the conglomerate’s stock worth $1,894,000 after acquiring an additional 1,213 shares during the period. Strategic Blueprint LLC lifted its position in General Electric by 15.2% during the 4th quarter. Strategic Blueprint LLC now owns 3,883 shares of the conglomerate’s stock worth $648,000 after acquiring an additional 512 shares during the period. Forsta AP Fonden lifted its position in General Electric by 0.8% during the 4th quarter. Forsta AP Fonden now owns 320,625 shares of the conglomerate’s stock worth $53,477,000 after acquiring an additional 2,500 shares during the period. Finally, Foster Victor Wealth Advisors LLC acquired a new stake in General Electric during the 4th quarter worth about $421,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Up 2.2 %

NYSE:GE traded up $4.25 during trading hours on Wednesday, hitting $198.68. The company’s stock had a trading volume of 798,179 shares, compared to its average volume of 6,155,981. The stock has a market capitalization of $215.03 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The stock has a fifty day moving average of $176.00 and a 200-day moving average of $175.63. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $104.98 and a 52-week high of $207.65.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. On average, equities analysts forecast that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GE. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Three investment 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 has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.