Parisi Gray Wealth Management Increases Holdings in General Electric (NYSE:GE)

Parisi Gray Wealth Management increased its stake in General Electric (NYSE:GE) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,831 shares of the conglomerate’s stock after buying an additional 63 shares during the quarter. Parisi Gray Wealth Management’s holdings in General Electric were worth $972,000 at the end of the most recent quarter.

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

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on 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 represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, 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. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.1 %

Shares of GE traded down $0.21 on Monday, reaching $171.48. The stock had a trading volume of 5,608,021 shares, compared to its average volume of 4,975,105. The firm has a market capitalization of $185.59 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a 50-day simple moving average of $174.34 and a 200-day simple moving average of $173.54. General Electric has a 12-month low of $100.95 and a 12-month 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.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. Sell-side analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GE. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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 report on Monday, October 14th. Finally, Wells Fargo & Company raised their price target on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.47.

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.