Drive Wealth Management LLC Has $472,000 Stock Position in General Electric (NYSE:GE)

Drive Wealth Management LLC increased its position in General Electric (NYSE:GE) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,828 shares of the conglomerate’s stock after purchasing an additional 285 shares during the quarter. Drive Wealth Management LLC’s holdings in General Electric were worth $472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. International Assets Investment Management LLC grew its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Janus Henderson Group PLC grew its stake in General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. grew its stake in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the period. Finally, State Street Corp grew its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GE. Deutsche Bank Aktiengesellschaft reduced 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. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein increased their price objective 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. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $205.80.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Trading Down 2.0 %

Shares of GE opened at $196.81 on Monday. General Electric has a 1-year low of $103.75 and a 1-year high of $207.65. The company has a 50-day moving average of $175.33 and a 200 day moving average of $175.08. The firm has a market capitalization of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, research analysts expect that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 18.70%.

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.