Clear Harbor Asset Management LLC Buys 82 Shares of General Electric (NYSE:GE)

Clear Harbor Asset Management LLC increased its stake in General Electric (NYSE:GE) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,169 shares of the conglomerate’s stock after purchasing an additional 82 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in General Electric were worth $362,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GE. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the third quarter worth approximately $30,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. 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. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Performance

GE opened at $187.46 on Wednesday. The stock has a market capitalization of $202.89 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.49 and a beta of 1.19. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a fifty day moving average of $174.30 and a 200 day moving average of $174.30.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, sell-side analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.