MJP Associates Inc. ADV Purchases Shares of 1,696 General Electric (NYSE:GE)

MJP Associates Inc. ADV purchased a new stake in General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,696 shares of the conglomerate’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently bought and sold shares of the stock. CGC Financial Services LLC lifted its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Macroview Investment Management LLC increased its position in shares of General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 96 shares in the last quarter. Fortis Group Advisors LLC acquired a new stake in shares of General Electric during the 3rd quarter worth about $37,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of General Electric during the 3rd quarter worth about $37,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company increased their target price on shares of General Electric from $177.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on shares of General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Citigroup raised their price objective on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Oppenheimer restated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.54.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Trading Down 2.5 %

General Electric stock traded down $4.59 during midday trading on Thursday, hitting $175.53. 9,642,878 shares of the stock were exchanged, compared to its average volume of 6,038,135. The company has a fifty day simple moving average of $151.58 and a two-hundred day simple moving average of $129.37. General Electric has a 52 week low of $93.47 and a 52 week high of $180.36. The stock has a market capitalization of $191.90 billion, a PE ratio of 21.02, a P/E/G ratio of 2.30 and a beta of 1.28. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter last year, the firm earned $1.24 EPS. General Electric’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.57 EPS for the current fiscal year.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.