Hillcrest Wealth Advisors NY LLC Takes Position in General Electric (NYSE:GE)

Hillcrest Wealth Advisors NY LLC purchased a new position in General Electric (NYSE:GEFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,311 shares of the conglomerate’s stock, valued at approximately $2,053,000. General Electric accounts for about 1.0% of Hillcrest Wealth Advisors NY LLC’s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also recently bought and sold shares of the company. CX Institutional increased its holdings in General Electric by 18.4% during the 4th quarter. CX Institutional now owns 8,094 shares of the conglomerate’s stock valued at $1,350,000 after acquiring an additional 1,256 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $133,000. Southland Equity Partners LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $220,000. LexAurum Advisors LLC raised its position in shares of General Electric by 44.0% during the 4th quarter. LexAurum Advisors LLC now owns 3,991 shares of the conglomerate’s stock worth $666,000 after purchasing an additional 1,219 shares during the last quarter. Finally, RFG Advisory LLC lifted its stake in General Electric by 6.1% in the 4th quarter. RFG Advisory LLC now owns 9,108 shares of the conglomerate’s stock valued at $1,519,000 after buying an additional 522 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of General Electric stock opened at $196.81 on Friday. The business’s fifty day moving average price is $174.93 and its 200 day moving average price is $174.77. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $213.00 billion, a P/E ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GEGet Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. As a group, research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

Get Our Latest Research Report on General Electric

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s 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 in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on 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 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 disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

About General Electric

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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