Procyon Advisors LLC Buys 281 Shares of General Electric (NYSE:GE)

Procyon Advisors LLC grew its stake in shares of General Electric (NYSE:GE) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,251 shares of the conglomerate’s stock after purchasing an additional 281 shares during the quarter. Procyon Advisors LLC’s holdings in General Electric were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Catalyst Capital Advisors LLC lifted its stake in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares in the last quarter. Mackenzie Financial Corp lifted its position in General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the 4th quarter valued at $733,000. Marietta Investment Partners LLC bought a new stake in shares of General Electric in the 2nd quarter worth $1,569,000. Finally, State Street Corp raised its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Performance

Shares of GE stock opened at $182.83 on Monday. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The business has a 50-day simple moving average of $174.33 and a 200-day simple moving average of $174.08. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business earned $0.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.