Westend Capital Management LLC Purchases 378 Shares of General Electric (NYSE:GE)

Westend Capital Management LLC lifted its position in General Electric (NYSE:GE) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,607 shares of the conglomerate’s stock after acquiring an additional 378 shares during the quarter. General Electric accounts for approximately 3.9% of Westend Capital Management LLC’s holdings, making the stock its 9th largest position. Westend Capital Management LLC’s holdings in General Electric were worth $13,278,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Tsfg LLC raised its holdings in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Saxon Interests Inc. raised its position in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares during the period. Strategic Advisors LLC lifted its stake in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after buying an additional 60 shares during the period. Finally, Meridian Management Co. grew its stake in General Electric by 1.2% in the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock valued at $972,000 after buying an additional 61 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Up 1.7 %

GE opened at $182.83 on Friday. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The business has a 50 day moving average of $174.38 and a 200-day moving average of $173.83. General Electric has a 52 week low of $101.16 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 (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 net margin of 11.48% and a return on equity of 18.93%. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Sanford C. Bernstein increased their target price 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. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America increased 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, Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.47.

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.