Leo Wealth LLC Grows Stock Position in General Electric (NYSE:GE)

Leo Wealth LLC lifted its stake in General Electric (NYSE:GE) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,621 shares of the conglomerate’s stock after acquiring an additional 259 shares during the quarter. Leo Wealth LLC’s holdings in General Electric were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tsfg LLC lifted its stake in 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 in the last quarter. Red Door Wealth Management LLC increased its holdings in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. increased its holdings 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 last quarter. Old North State Wealth Management LLC lifted its position in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after buying an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its stake in General Electric by 1.0% during the third 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 last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

GE opened at $205.32 on Friday. The stock’s 50-day moving average price is $179.22 and its 200 day moving average price is $177.55. General Electric has a 12-month low of $110.57 and a 12-month high of $207.84. The firm has a market cap of $220.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.53 and a beta of 1.22. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.55%. General Electric’s dividend payout ratio is presently 18.70%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.73.

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.