Synergy Asset Management LLC Acquires 25,170 Shares of General Electric (NYSE:GE)

Synergy Asset Management LLC grew its stake in General Electric (NYSE:GE) by 109.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 48,230 shares of the conglomerate’s stock after acquiring an additional 25,170 shares during the period. Synergy Asset Management LLC’s holdings in General Electric were worth $8,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of GE. Susquehanna Fundamental Investments LLC bought a new position in General Electric during the second quarter worth about $811,000. Northwestern Mutual Wealth Management Co. raised its position in shares of General Electric by 4.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,953 shares of the conglomerate’s stock valued at $10,644,000 after buying an additional 3,086 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of General Electric by 11.5% in the second quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock valued at $190,000 after buying an additional 123 shares during the period. EP Wealth Advisors LLC grew its position in General Electric by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 19,317 shares of the conglomerate’s stock worth $3,071,000 after buying an additional 187 shares in the last quarter. Finally, Truist Financial Corp increased its stake in General Electric by 10.6% during the 2nd quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate’s stock worth $35,111,000 after acquiring an additional 21,127 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 2.3 %

Shares of GE opened at $198.88 on Thursday. The company has a market capitalization of $215.25 billion, a PE ratio of 34.95, a PEG ratio of 1.53 and a beta of 1.19. The stock’s 50-day moving average price is $176.00 and its two-hundred day moving average price is $175.63. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $104.98 and a 12 month high of $207.65.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. On average, analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.56%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric 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.