Concord Wealth Partners Boosts Stock Position in General Electric (NYSE:GE)

Concord Wealth Partners grew its holdings in shares of General Electric (NYSE:GE - Free Report) by 114.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,824 shares of the conglomerate's stock after buying an additional 5,251 shares during the quarter. Concord Wealth Partners' holdings in General Electric were worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GE. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter valued at about $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Trading Down 1.0 %

General Electric stock opened at $203.59 on Friday. General Electric has a 52 week low of $105.70 and a 52 week high of $207.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $220.35 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. The company has a 50 day moving average price of $177.41 and a 200 day moving average price of $176.30.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Research analysts forecast that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. General Electric's dividend payout ratio is 18.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.73.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company's 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm's 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

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