General Electric (NYSE:GE) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its stake in shares of General Electric (NYSE:GE - Free Report) by 207.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,827 shares of the conglomerate's stock after purchasing an additional 5,957 shares during the quarter. Miracle Mile Advisors LLC's holdings in General Electric were worth $1,472,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GE. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter worth $30,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GE shares. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research 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. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of "Moderate Buy" and an average price target of $201.47.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now 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.

General Electric Stock Performance

GE stock traded up $3.48 during trading on Wednesday, hitting $180.34. The company had a trading volume of 7,395,816 shares, compared to its average volume of 5,411,167. The firm has a 50-day moving average price of $174.37 and a 200-day moving average price of $173.74. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $195.18 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $100.95 and a 1-year high of $194.80.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, December 27th. General Electric's dividend payout ratio (DPR) is presently 19.68%.

General Electric 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.