Synergy Asset Management LLC Has $8.59 Million Stake in General Electric (NYSE:GE)

Synergy Asset Management LLC raised its stake in General Electric (NYSE:GE) by 109.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,230 shares of the conglomerate’s stock after buying an additional 25,170 shares during the quarter. Synergy Asset Management LLC’s holdings in General Electric were worth $8,592,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp acquired a new stake in General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 2.3 %

Shares of GE opened at $198.88 on Thursday. The stock has a fifty day moving average price of $176.00 and a two-hundred day moving average price of $175.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $215.25 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a 52-week low of $104.98 and a 52-week high of $207.65.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.56%. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GE shares. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, 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 report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $208.73.

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.