BNC Wealth Management LLC Boosts Stake in General Electric (NYSE:GE)

BNC Wealth Management LLC raised its position in General Electric (NYSE:GE) by 224.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,502 shares of the conglomerate’s stock after purchasing an additional 7,269 shares during the period. BNC Wealth Management LLC’s holdings in General Electric were worth $1,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC raised its position in General Electric by 5.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 2,279 shares of the conglomerate’s stock worth $381,000 after purchasing an additional 116 shares during the period. Herbst Group LLC raised its position in General Electric by 125.2% in the 4th quarter. Herbst Group LLC now owns 28,981 shares of the conglomerate’s stock worth $4,834,000 after purchasing an additional 16,111 shares during the period. Krilogy Financial LLC raised its position in General Electric by 21.9% in the 4th quarter. Krilogy Financial LLC now owns 24,082 shares of the conglomerate’s stock worth $4,017,000 after purchasing an additional 4,329 shares during the period. Hanseatic Management Services Inc. raised its position in General Electric by 1.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 6,540 shares of the conglomerate’s stock worth $1,091,000 after purchasing an additional 69 shares during the period. Finally, Ameritas Advisory Services LLC grew its stake in General Electric by 9.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 11,745 shares of the conglomerate’s stock worth $1,959,000 after acquiring an additional 1,007 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.7 %

NYSE:GE opened at $182.83 on Friday. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80. The firm has a 50 day moving average of $174.33 and a 200 day moving average of $174.00. 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 stock has a market capitalization of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

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.