Cornerstone Wealth Management LLC Boosts Stock Position in General Electric (NYSE:GE)

Cornerstone Wealth Management LLC boosted its holdings in shares of General Electric (NYSE:GE) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,658 shares of the conglomerate’s stock after purchasing an additional 140 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Electric were worth $1,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

General Electric Trading Down 2.0 %

Shares of General Electric stock opened at $196.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The business has a fifty day simple moving average of $174.93 and a 200-day simple moving average of $174.77. General Electric has a fifty-two week low of $103.75 and a fifty-two week high of $207.65.

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

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Activity

In other news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 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. Insiders own 0.66% of the company’s stock.

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.