Stoneridge Investment Partners LLC Purchases New Holdings in General Electric (NYSE:GE)

Stoneridge Investment Partners LLC acquired a new position in General Electric (NYSE:GE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,255 shares of the conglomerate's stock, valued at approximately $2,544,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. UMB Bank n.a. raised its position in shares of General Electric by 16.2% during the third quarter. UMB Bank n.a. now owns 7,600 shares of the conglomerate's stock valued at $1,433,000 after buying an additional 1,061 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in General Electric in the 3rd quarter worth $205,000. LongView Wealth Management purchased a new stake in General Electric in the 3rd quarter worth $225,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of General Electric by 93.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 24,432 shares of the conglomerate's stock valued at $4,611,000 after purchasing an additional 11,827 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of General Electric by 11.5% during the third quarter. Valeo Financial Advisors LLC now owns 17,759 shares of the conglomerate's stock valued at $3,349,000 after purchasing an additional 1,833 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.73.

Remove Ads

General Electric Stock Up 0.4 %

GE traded up $0.89 during trading on Wednesday, hitting $209.71. The stock had a trading volume of 4,593,175 shares, compared to its average volume of 5,741,685. General Electric has a twelve month low of $110.95 and a twelve month high of $211.42. The stock has a 50 day simple moving average of $180.75 and a two-hundred day simple moving average of $178.56. 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 company has a market capitalization of $225.08 billion, a PE ratio of 35.01, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. On average, research analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, December 27th. General Electric's dividend payout ratio is presently 18.70%.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company's stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

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.