Wynn Capital LLC Acquires New Position in General Electric (NYSE:GE)

Wynn Capital LLC acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,747 shares of the conglomerate’s stock, valued at approximately $1,244,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC purchased a new position in shares of General Electric in the 3rd quarter worth approximately $224,000. Summit Global Investments purchased a new position in shares of General Electric in the 3rd quarter worth approximately $218,000. RFG Advisory LLC grew its position in shares of General Electric by 9.6% in the 3rd quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock worth $353,000 after buying an additional 280 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of General Electric by 6.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock worth $2,923,000 after buying an additional 1,706 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of General Electric by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock worth $428,000 after buying an additional 794 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

Shares of General Electric stock traded down $3.43 during trading hours on Wednesday, reaching $159.19. 10,294,622 shares of the company’s stock were exchanged, compared to its average volume of 8,168,638. General Electric has a 1 year low of $76.87 and a 1 year high of $163.65. The company has a market capitalization of $174.04 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29. The business has a fifty day moving average of $159.94 and a two-hundred day moving average of $135.39. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 13.38%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. StockNews.com initiated coverage on shares of General Electric in a research note on Sunday. They issued a “hold” rating for the company. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $167.29.

About General Electric

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.