Axxcess Wealth Management LLC Increases Stock Holdings in General Electric (NYSE:GE)

Axxcess Wealth Management LLC grew its position in General Electric (NYSE:GE) by 64.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,619 shares of the conglomerate’s stock after buying an additional 2,985 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Electric were worth $973,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GE. Prime Capital Investment Advisors LLC grew its holdings in shares of General Electric by 29.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after buying an additional 6,419 shares in the last quarter. Fifth Third Bancorp grew its stake in General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after purchasing an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of General Electric during the third quarter worth $1,846,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Vertical Research began coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Wells Fargo & Company increased their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

General Electric stock opened at $167.94 on Tuesday. General Electric has a 52-week low of $78.17 and a 52-week high of $167.98. The firm has a fifty day moving average of $162.20 and a 200-day moving average of $138.73. The firm has a market capitalization of $183.83 billion, a P/E ratio of 55.06, a PEG ratio of 2.92 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, analysts predict that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio is 36.72%.

About General Electric

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.