Ritholtz Wealth Management Grows Stake in General Electric (NYSE:GE)

Ritholtz Wealth Management lifted its position in General Electric (NYSE:GE) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,058 shares of the conglomerate’s stock after buying an additional 1,217 shares during the period. Ritholtz Wealth Management’s holdings in General Electric were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its position in General Electric by 10.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after purchasing an additional 10,722 shares in the last quarter. D1 Capital Partners L.P. raised its holdings in General Electric by 159.8% during the second quarter. D1 Capital Partners L.P. now owns 1,455,000 shares of the conglomerate’s stock valued at $159,832,000 after acquiring an additional 895,000 shares during the period. Hoey Investments Inc. raised its holdings in General Electric by 51,152.3% during the third quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock valued at $2,493,000 after acquiring an additional 22,507 shares during the period. Qsemble Capital Management LP bought a new stake in shares of General Electric in the third quarter worth about $1,846,000. Finally, Cambridge Financial Group Inc. bought a new stake in shares of General Electric in the third quarter worth about $6,285,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GE. Royal Bank of Canada lifted their target price on General Electric from $148.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. StockNews.com initiated coverage on General Electric in a research report on Thursday. They issued a “hold” rating for the company. Barclays lifted their price target on General Electric from $153.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Wells Fargo & Company lifted their price target on General Electric from $177.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.54.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Down 2.6 %

Shares of GE stock traded down $4.65 during trading hours on Thursday, reaching $175.47. 9,672,918 shares of the company’s stock were exchanged, compared to its average volume of 6,076,438. The stock’s 50 day moving average is $151.58 and its 200-day moving average is $129.37. The company has a market cap of $191.84 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 2.30 and a beta of 1.28. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a fifty-two week low of $93.47 and a fifty-two week high of $180.36.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Analysts predict that General Electric will post 4.57 earnings per share for the current fiscal year.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.