Synergy Asset Management LLC Has $8.59 Million Stake in General Electric (NYSE:GE)

Synergy Asset Management LLC increased its holdings in General Electric (NYSE:GE - Free Report) by 109.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,230 shares of the conglomerate's stock after acquiring an additional 25,170 shares during the quarter. Synergy Asset Management LLC's holdings in General Electric were worth $8,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the third quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Electric in the fourth quarter valued at about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This represents a 9.46 % 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

Shares of NYSE GE traded up $6.79 during midday trading on Thursday, reaching $205.89. 6,224,375 shares of the company traded hands, compared to its average volume of 6,435,949. The company has a market cap of $222.83 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. The stock has a 50-day moving average price of $176.42 and a 200 day moving average price of $175.79. General Electric has a 52 week low of $105.70 and a 52 week high of $207.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Sell-side analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, December 27th. General Electric's dividend payout ratio is presently 18.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of "Moderate Buy" and a consensus target price 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.