Spartan Planning & Wealth Management Buys Shares of 1,255 General Electric (NYSE:GE)

Spartan Planning & Wealth Management purchased a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,255 shares of the conglomerate’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Newport Trust Company LLC purchased a new stake in shares of General Electric in the second quarter valued at about $2,613,332,000. Jennison Associates LLC raised its holdings in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in General Electric in the 2nd quarter valued at about $580,200,000. International Assets Investment Management LLC boosted its position in General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. grew its stake in General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after acquiring an additional 1,605,434 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GE. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Up 0.5 %

GE stock traded up $0.90 during trading on Tuesday, reaching $173.35. The stock had a trading volume of 2,633,992 shares, compared to its average volume of 3,903,606. 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 has a fifty day moving average price of $174.39 and a 200 day moving average price of $173.23. The company has a market capitalization of $187.62 billion, a P/E ratio of 30.47, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $99.37 and a 1-year high of $194.80.

General Electric (NYSE:GE) last released its quarterly 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 return on equity of 18.93% and a net margin of 11.48%. The business 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% compared to the same quarter last year. On average, equities analysts anticipate 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 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 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,407,036.57. This trade 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.

About General Electric

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.