MFG Wealth Management Inc. Invests $3.03 Million in General Electric (NYSE:GE)

MFG Wealth Management Inc. bought a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 18,140 shares of the conglomerate’s stock, valued at approximately $3,026,000. General Electric makes up 2.8% of MFG Wealth Management Inc.’s portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its holdings in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $733,000. State Street Corp lifted its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC boosted its position in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its holdings in shares of General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were 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. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.4 %

GE opened at $209.71 on Thursday. The firm has a 50 day simple moving average of $180.75 and a 200 day simple moving average of $178.56. General Electric has a fifty-two week low of $110.95 and a fifty-two week high of $211.42. The company has a market cap of $225.08 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.53%. General Electric’s dividend payout ratio is presently 18.70%.

General Electric Company 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.