Pinnacle Wealth Management Advisory Group LLC Raises Position in General Electric (NYSE:GE)

Pinnacle Wealth Management Advisory Group LLC lifted its stake in General Electric (NYSE:GE) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 4,034 shares of the conglomerate’s stock after acquiring an additional 100 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in General Electric were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. National Pension Service boosted its position in shares of General Electric by 2.4% in the fourth quarter. National Pension Service now owns 1,916,309 shares of the conglomerate’s stock worth $244,579,000 after purchasing an additional 45,231 shares during the period. Gryphon Financial Partners LLC boosted its holdings in General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after buying an additional 4,354 shares during the period. Sovereign Financial Group Inc. purchased a new stake in General Electric in the 4th quarter worth $214,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in General Electric by 61.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,727 shares of the conglomerate’s stock valued at $476,000 after acquiring an additional 1,416 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in shares of General Electric by 61.6% in the fourth quarter. Apollon Wealth Management LLC now owns 16,327 shares of the conglomerate’s stock valued at $2,084,000 after acquiring an additional 6,221 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Up 0.0 %

NYSE:GE traded up $0.08 during mid-day trading on Wednesday, reaching $168.86. The company’s stock had a trading volume of 4,787,210 shares, compared to its average volume of 7,836,464. The firm has a market capitalization of $184.84 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. General Electric has a 1 year low of $78.17 and a 1 year high of $170.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $162.49 and a 200-day moving average of $139.17.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.27 earnings per share. Equities research analysts forecast that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

Several research firms recently issued reports on GE. Royal Bank of Canada increased their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $172.29.

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.