CWA Asset Management Group LLC Grows Position in General Electric (NYSE:GE)

CWA Asset Management Group LLC grew its position in shares of General Electric (NYSE:GE) by 14.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,828 shares of the conglomerate’s stock after acquiring an additional 594 shares during the quarter. CWA Asset Management Group LLC’s holdings in General Electric were worth $805,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Versant Capital Management Inc grew its stake in shares of General Electric by 18.4% in the 4th quarter. Versant Capital Management Inc now owns 18,180 shares of the conglomerate’s stock worth $3,032,000 after buying an additional 2,828 shares in the last quarter. Old Port Advisors grew its position in General Electric by 1.4% in the fourth quarter. Old Port Advisors now owns 5,609 shares of the conglomerate’s stock worth $936,000 after acquiring an additional 78 shares in the last quarter. Principal Financial Group Inc. increased its stake in General Electric by 3.8% during the third quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock worth $249,596,000 after acquiring an additional 48,543 shares during the last quarter. SMART Wealth LLC purchased a new stake in General Electric during the third quarter valued at approximately $354,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $44,725,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, 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. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

NYSE GE opened at $172.52 on Wednesday. The company has a market cap of $186.72 billion, a PE ratio of 30.32, a P/E/G ratio of 1.63 and a beta of 1.19. The firm’s 50 day moving average price is $174.36 and its 200-day moving average price is $173.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $99.37 and a 52-week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. Sell-side analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein raised their price objective 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. Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.47.

About General Electric

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.