Kingsview Wealth Management LLC grew its holdings in shares of General Electric (NYSE:GE – Free Report) by 11.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,792 shares of the conglomerate’s stock after buying an additional 22,203 shares during the quarter. General Electric accounts for about 0.8% of Kingsview Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Kingsview Wealth Management LLC’s holdings in General Electric were worth $39,751,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of GE. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter worth $2,613,332,000. 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 in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the 2nd quarter valued at about $580,200,000. International Assets Investment Management LLC lifted its position in shares of General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in shares of General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.
General Electric Trading Up 1.3 %
Shares of NYSE:GE opened at $181.11 on Friday. The business has a 50-day moving average price of $183.22 and a 200-day moving average price of $171.10. The stock has a market cap of $196.01 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.76 and a beta of 1.19. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.
General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.
Insider Buying and Selling at General Electric
In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on GE. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.
Get Our Latest Stock Report on GE
General Electric Company 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.
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