Weaver Consulting Group Buys 76 Shares of General Electric (NYSE:GE)

Weaver Consulting Group lifted its stake in shares of General Electric (NYSE:GE) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,263 shares of the conglomerate’s stock after buying an additional 76 shares during the quarter. Weaver Consulting Group’s holdings in General Electric were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GE. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter worth about $28,000. Finally, Studio Investment Management LLC raised its stake in General Electric by 97.5% in the 2nd 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. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup increased 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. Finally, Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Down 5.3 %

Shares of General Electric stock opened at $173.01 on Friday. The firm’s 50 day moving average is $182.30 and its 200 day moving average is $172.16. The firm has a market capitalization of $187.25 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.78 and a beta of 1.17. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,289 shares in the company, 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. 0.66% of the stock is currently owned by insiders.

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.