Kingsview Wealth Management LLC Has $39.75 Million Position in General Electric (NYSE:GE)

Kingsview Wealth Management LLC lifted its stake in shares of General Electric (NYSE:GE) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,792 shares of the conglomerate’s stock after acquiring an additional 22,203 shares during the quarter. General Electric makes up 0.8% of Kingsview Wealth Management LLC’s holdings, making the stock its 21st biggest holding. Kingsview Wealth Management LLC’s holdings in General Electric were worth $39,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter worth approximately $28,000. Finally, Studio Investment Management LLC increased its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 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 represents a 34.50 % 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 Price Performance

GE stock opened at $181.11 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 firm’s 50-day moving average price is $183.22 and its two-hundred day moving average price is $171.10. The stock has a market capitalization of $196.01 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.76 and a beta of 1.19. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping 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 firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company posted $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GE. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.