Hobart Private Capital LLC Takes Position in General Electric (NYSE:GE)

Hobart Private Capital LLC acquired a new stake in shares of General Electric (NYSE:GE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,468 shares of the conglomerate's stock, valued at approximately $245,000.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new position in General Electric in the 4th quarter worth approximately $733,000. State Street Corp lifted its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in shares of General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock valued at $2,576,000 after purchasing an additional 5,162 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

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General Electric Stock Performance

Shares of GE stock traded up $0.89 during trading hours on Wednesday, reaching $209.71. 4,593,175 shares of the company's stock were exchanged, compared to its average volume of 5,741,685. The company has a market cap of $225.08 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company's 50 day moving average is $180.75 and its two-hundred day moving average is $178.56. General Electric has a 1 year low of $110.95 and a 1 year high of $211.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, December 27th. General Electric's dividend payout ratio (DPR) is 18.70%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business'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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on GE. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Finally, Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.73.

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.