Forza Wealth Management LLC Acquires 187 Shares of General Electric (NYSE:GE)

Forza Wealth Management LLC grew its holdings in General Electric (NYSE:GE) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,249 shares of the conglomerate’s stock after acquiring an additional 187 shares during the quarter. Forza Wealth Management LLC’s holdings in General Electric were worth $570,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Northern Trust Corp grew its holdings in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Norges Bank bought a new position in shares of General Electric during the fourth quarter worth about $1,193,159,000. Morgan Stanley grew its holdings in shares of General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of General Electric by 6.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. Jefferies Financial Group increased their price objective on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Bank of America increased their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric Stock Performance

Shares of GE traded up $2.14 during mid-day trading on Monday, reaching $164.49. The company’s stock had a trading volume of 5,382,593 shares, compared to its average volume of 8,079,420. General Electric has a 1-year low of $77.93 and a 1-year high of $166.07. The stock has a market cap of $180.05 billion, a P/E ratio of 53.93, a PEG ratio of 2.90 and a beta of 1.29. The business has a 50-day simple moving average of $161.02 and a two-hundred day simple moving average of $136.80. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred 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 completion of 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 legal filing with the SEC, which is accessible through this link. In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was 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 of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred 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 sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.