Naviter Wealth LLC Grows Stock Holdings in General Electric (NYSE:GE)

Naviter Wealth LLC grew its holdings in shares of General Electric (NYSE:GE) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,872 shares of the conglomerate’s stock after buying an additional 1,280 shares during the quarter. Naviter Wealth LLC’s holdings in General Electric were worth $1,261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GE. Northern Trust Corp increased its position in General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Morgan Stanley grew its position in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after acquiring an additional 434,736 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of General Electric during the fourth quarter worth $520,488,000. Meritage Group LP increased its stake in General Electric by 3.5% in the 3rd quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock worth $364,157,000 after buying an additional 110,000 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of General Electric by 1.1% during the third quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock valued at $339,848,000 after acquiring an additional 32,643 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Down 0.4 %

GE stock opened at $163.75 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm’s fifty day simple moving average is $161.02 and its 200-day simple moving average is $136.80. General Electric has a 12 month low of $77.93 and a 12 month high of $166.07. The company has a market capitalization of $179.24 billion, a P/E ratio of 53.93, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio is 36.72%.

Analysts Set New Price Targets

Several research firms recently weighed in on GE. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. The Goldman Sachs Group lifted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Argus upped their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

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.