Wealthspire Advisors LLC Has $2.01 Million Stock Holdings in General Electric (NYSE:GE)

Wealthspire Advisors LLC lifted its holdings in shares of General Electric (NYSE:GE) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,740 shares of the conglomerate’s stock after purchasing an additional 131 shares during the quarter. Wealthspire Advisors LLC’s holdings in General Electric were worth $2,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC increased its position in shares of General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after purchasing an additional 6,419 shares during the period. Fifth Third Bancorp lifted its holdings in shares of General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after acquiring an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC increased its stake in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after acquiring an additional 22,998 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in General Electric during the third quarter valued at approximately $1,846,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE GE traded down $1.36 during mid-day trading on Thursday, reaching $167.50. 4,902,984 shares of the company’s stock were exchanged, compared to its average volume of 7,805,056. The firm has a market capitalization of $183.35 billion, a price-to-earnings ratio of 54.92, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The firm has a 50-day moving average price of $162.76 and a two-hundred day moving average price of $139.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 52 week low of $78.17 and a 52 week high of $170.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Analysts predict that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GE shares. StockNews.com began coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Jefferies Financial Group increased their target price on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Bank of America upped their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling

In other 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 completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

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.