MFG Wealth Management Inc. Purchases New Shares in General Electric (NYSE:GE)

MFG Wealth Management Inc. bought 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 & Exchange Commission. The firm bought 18,140 shares of the conglomerate's stock, valued at approximately $3,026,000. General Electric makes up about 2.8% of MFG Wealth Management Inc.'s holdings, making the stock its 12th biggest holding.

A number of other large investors have also modified their holdings of GE. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.77% of the company's stock.

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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

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General Electric Price Performance

Shares of GE stock traded up $0.26 during mid-day trading on Friday, hitting $208.62. 4,267,083 shares of the stock traded hands, compared to its average volume of 6,009,583. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42. The firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company's 50-day simple moving average is $182.66 and its 200-day simple moving average is $179.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. General Electric's dividend payout ratio (DPR) is presently 18.70%.

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.