Empowered Funds LLC Boosts Stake in General Electric (NYSE:GE)

Empowered Funds LLC lifted its holdings in shares of General Electric (NYSE:GE) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,090 shares of the conglomerate’s stock after purchasing an additional 11,545 shares during the quarter. Empowered Funds LLC’s holdings in General Electric were worth $10,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of 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. Red Door Wealth Management LLC increased its position in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. raised its holdings in 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 buying an additional 57 shares during the period. 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 valued at $331,000 after buying an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew 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 period. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GE. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three 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, the company currently has an average rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

Shares of GE stock opened at $205.32 on Monday. The stock has a market capitalization of $220.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a one year low of $110.57 and a one year high of $207.84. The company’s 50-day simple moving average is $179.68 and its 200-day simple moving average is $177.89. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.