Old Port Advisors Raises Holdings in General Electric (NYSE:GE)

Old Port Advisors raised its position in General Electric (NYSE:GE) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,609 shares of the conglomerate’s stock after purchasing an additional 78 shares during the period. Old Port Advisors’ holdings in General Electric were worth $936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the 3rd quarter valued at about $28,000. Finally, Studio Investment Management LLC lifted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.7 %

Shares of General Electric stock traded up $2.87 during trading hours on Thursday, hitting $169.66. The company had a trading volume of 1,094,115 shares, compared to its average volume of 6,084,345. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50-day moving average is $174.81 and its two-hundred day moving average is $173.03. The company has a market cap of $183.62 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. General Electric has a twelve month low of $98.92 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (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 company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GE shares. 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 report on Monday, October 14th. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Corporate 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.