Westend Capital Management LLC Buys 378 Shares of General Electric (NYSE:GE)

Westend Capital Management LLC increased its position in shares of General Electric (NYSE:GE) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,607 shares of the conglomerate’s stock after buying an additional 378 shares during the period. General Electric comprises about 3.9% of Westend Capital Management LLC’s portfolio, making the stock its 9th biggest position. Westend Capital Management LLC’s holdings in General Electric were worth $13,278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in General Electric in the second quarter valued at $556,000. Seven Eight Capital LP acquired a new stake in shares of General Electric during the 2nd quarter worth about $560,000. Richardson Financial Services Inc. lifted its stake in General Electric by 49.5% during the second quarter. Richardson Financial Services Inc. now owns 296 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 98 shares during the last quarter. ProVise Management Group LLC boosted its holdings in General Electric by 18.8% in the second quarter. ProVise Management Group LLC now owns 2,787 shares of the conglomerate’s stock valued at $443,000 after purchasing an additional 442 shares in the last quarter. Finally, Bristol Gate Capital Partners Inc. purchased a new position in General Electric in the second quarter valued at approximately $89,572,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value 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 $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 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.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Three research 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 currently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Trading Up 1.7 %

Shares of General Electric stock opened at $182.83 on Friday. The company has a 50-day moving average of $174.38 and a two-hundred day moving average of $173.83. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. 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 12-month low of $101.16 and a 12-month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data 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 business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.