Foster Victor Wealth Advisors LLC Buys New Stake in General Electric (NYSE:GE)

Foster Victor Wealth Advisors LLC acquired a new stake in General Electric (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,301 shares of the conglomerate's stock, valued at approximately $421,000.

A number of other institutional investors have also bought and sold shares of GE. Susquehanna Fundamental Investments LLC purchased a new stake in shares of General Electric in the 2nd quarter valued at approximately $811,000. Northwestern Mutual Wealth Management Co. raised its position in General Electric by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,953 shares of the conglomerate's stock valued at $10,644,000 after purchasing an additional 3,086 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of General Electric by 11.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate's stock valued at $190,000 after purchasing an additional 123 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in General Electric by 1.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 19,317 shares of the conglomerate's stock valued at $3,071,000 after buying an additional 187 shares during the period. Finally, Truist Financial Corp increased its position in shares of General Electric by 10.6% during the second quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate's stock valued at $35,111,000 after acquiring an additional 21,127 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 1.8 %

NYSE:GE traded up $3.64 during midday trading on Thursday, hitting $202.74. 967,827 shares of the company were exchanged, compared to its average volume of 6,151,700. 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 fifty-two week low of $105.70 and a fifty-two week high of $207.65. The company has a market capitalization of $219.42 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a fifty day simple moving average of $176.42 and a 200 day simple moving average of $175.79.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, equities analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed 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. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric's dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group upped their target price 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has a consensus rating of "Moderate Buy" and an average target price of $208.73.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company's 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.