Pines Wealth Management LLC Buys Shares of 2,128 General Electric (NYSE:GE)

Pines Wealth Management LLC bought a new stake in General Electric (NYSE:GE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,128 shares of the conglomerate's stock, valued at approximately $365,000.

Other hedge funds have also made changes to their positions in the company. Tsfg LLC increased its position in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate's stock worth $92,000 after purchasing an additional 55 shares during the last quarter. Strategic Advisors LLC grew its stake in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate's stock valued at $428,000 after buying an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate's stock worth $1,188,000 after buying an additional 60 shares during the last quarter. Meridian Management Co. raised its position in General Electric by 1.2% during the third quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate's stock valued at $972,000 after acquiring an additional 61 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its position in General Electric by 3.0% during the third quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate's stock valued at $399,000 after acquiring an additional 62 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GE. Wells Fargo & Company increased their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They set 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 report on Thursday, January 2nd. Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of "Moderate Buy" and an average target price of $201.47.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 148,857 shares of the company's stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

General Electric Stock Performance

NYSE:GE traded down $0.55 during trading hours on Thursday, hitting $179.75. 4,938,862 shares of the company traded hands, compared to its average volume of 5,335,002. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $194.54 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 1.40 and a beta of 1.19. The firm has a 50-day moving average of $174.37 and a 200 day moving average of $173.74. General Electric has a twelve month low of $100.95 and a twelve month 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 for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter last year, the company earned $0.82 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

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