Principle Wealth Partners LLC Acquires 150 Shares of General Electric (NYSE:GE)

Principle Wealth Partners LLC raised its holdings in General Electric (NYSE:GE) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,566 shares of the conglomerate’s stock after acquiring an additional 150 shares during the quarter. Principle Wealth Partners LLC’s holdings in General Electric were worth $2,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. Northern Trust Corp boosted its position in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after purchasing an additional 410,061 shares in the last quarter. Morgan Stanley boosted its position in shares of General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after purchasing an additional 434,736 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of General Electric during the fourth quarter worth $520,488,000. Meritage Group LP boosted its position in shares of General Electric by 3.5% during the third quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock worth $364,157,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of General Electric by 1.1% during the third quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock worth $339,848,000 after purchasing an additional 32,643 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.00.

General Electric Stock Up 0.7 %

GE stock traded up $1.09 during midday trading on Friday, hitting $162.35. The company’s stock had a trading volume of 5,898,021 shares, compared to its average volume of 9,321,559. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. General Electric has a twelve month low of $77.28 and a twelve month high of $163.65. The company’s fifty day moving average price is $160.72 and its 200 day moving average price is $136.27. The stock has a market capitalization of $177.71 billion, a P/E ratio of 53.23, a PEG ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. As a group, equities research analysts predict that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is currently 36.72%.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.