General Electric (NYSE:GE) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in General Electric (NYSE:GE) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,499 shares of the conglomerate’s stock after buying an additional 1,986 shares during the period. Apollon Wealth Management LLC’s holdings in General Electric were worth $3,753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GE. Jennison Associates LLC grew its holdings in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC grew its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC grew its stake in General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after purchasing an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. grew its stake in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, State Street Corp grew its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Trading Down 0.4 %

Shares of GE opened at $205.32 on Friday. General Electric has a 12-month low of $110.57 and a 12-month high of $207.84. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $220.37 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. The stock’s 50-day moving average price is $179.68 and its 200 day moving average price is $177.85.

General Electric (NYSE:GE) last released 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 22.19% and a net margin of 14.31%. As a group, research analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.