Marks Group Wealth Management Inc Grows Holdings in General Electric (NYSE:GE)

Marks Group Wealth Management Inc lifted its stake in shares of General Electric (NYSE:GE) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,167 shares of the conglomerate’s stock after buying an additional 234 shares during the quarter. Marks Group Wealth Management Inc’s holdings in General Electric were worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC increased its position in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC grew its stake in General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. increased its holdings in General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares during the last quarter. Old North State Wealth Management LLC raised its stake in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares in the last quarter. Finally, Northeast Investment Management lifted its holdings in General Electric by 2.2% during the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $209.03 on Wednesday. General Electric has a 12-month low of $110.95 and a 12-month high of $209.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $224.35 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The business has a 50 day simple moving average of $180.18 and a 200 day simple moving average of $178.28.

General Electric (NYSE:GE) last released its quarterly earnings results 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 22.19% and a net margin of 14.31%. On average, equities research analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders 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 yield of 0.54%. General Electric’s payout ratio is 18.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insiders Place Their Bets

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. 0.66% of the stock is owned by insiders.

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.