Wealth Enhancement Advisory Services LLC Boosts Stake in General Electric

Wealth Enhancement Advisory Services LLC has increased its investment in General Electric (NYSE:GE) by 0.9% during the fourth quarter, as shown in its latest Form 13F filing with the Securities and Exchange Commission. Following this adjustment, the institutional investor now holds 551,171 shares of General Electric's stock after adding 4,828 shares during the quarter. This stake represents approximately 0.05% of the company, valued at around $91,930,000 at the end of the quarter.

In addition to Wealth Enhancement Advisory, several other hedge funds have also adjusted their positions in General Electric. For instance, State Street Corp increased its investment in the conglomerate by 2.1% in the third quarter, now owning 43,322,827 shares valued at about $8.18 billion after acquiring an additional 898,296 shares. Similarly, Geode Capital Management LLC lifted its holdings by 0.7%, bringing its total to 22,587,961 shares worth approximately $4.24 billion after purchasing an extra 156,272 shares.

Recent Market Activity

Newport Trust Company LLC established a new position in General Electric in the second quarter, valued at approximately $2.61 billion. Legal & General Group Plc also increased its holdings by 5.8%, owning 8,405,731 shares worth about $1.34 billion after buying an additional 459,201 shares. Additionally, Jennison Associates LLC significantly raised its stake in General Electric by 91.8% during the third quarter, now possessing 7,771,759 shares valued at around $1.47 billion. At present, institutional investors collectively own 74.77% of General Electric's stock.

Stock Performance Overview

General Electric stock has experienced fluctuations in value, trading down by 0.5% recently to $172.02. The volume of shares traded was 1,446,099, below the average volume of 4,249,202. The company holds a current ratio of 1.13, a quick ratio of 0.85, and a debt-to-equity ratio of 0.95. Over the past year, General Electric's stock has seen a low of $100.95 and a high of $194.80, with a market capitalization of $186.18 billion. The price-to-earnings ratio stands at 30.23, with a P/E/G ratio of 1.63 and a beta of 1.19. The 50-day simple moving average is $174.34, while the two-hundred day simple moving average sits at $173.28.

Earnings Results and Future Projections

General Electric recently released its earnings report on October 22nd, showing an earnings per share (EPS) of $1.15 for the quarter, slightly surpassing the consensus estimate of $1.13. The company reported revenue of $9.84 billion, outperforming the expected $9.02 billion. General Electric achieved a net margin of 11.48% and a return on equity of 18.93%, with quarterly revenue increasing by 5.8% year-over-year compared to last year’s figure of $0.82 EPS.

Dividend Announcement

On top of its performance, General Electric has also announced a quarterly dividend to be paid on January 27th. Shareholders who are on record by December 27th will receive a dividend of $0.28 per share. This translates to an annualized dividend of $1.12, resulting in a dividend yield of 0.65%. The company's dividend payout ratio is reported at 19.68%.

Insider Activity Updates

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric on November 6th for an average price of $181.13, totaling approximately $1,267,910. Following the sale, Procacci retained 13,289 shares valued at about $2.41 million. Moreover, SVP Russell Stokes sold 15,550 shares on November 18th at an average price of $178.29, amounting to $2,772,409.50. Stokes currently holds 148,857 shares worth around $26.54 million. Insider ownership accounts for about 0.66% of the stock.

Analyst Ratings and Forecasts

Several equity analysts have issued new price targets for General Electric. Royal Bank of Canada, for example, has decreased its target from $210.00 to $200.00 while maintaining an "outperform" rating. Conversely, Citigroup increased their target from $198.00 to $216.00, recommending a "buy" rating. Additionally, Wells Fargo raised its target from $210.00 to $225.00, supporting an "overweight" rating. Generally, there are three analysts that rate the stock as holding while fourteen recommend buying. Current consensus indicates a moderate buy rating with an average price target of $201.47.

General Electric Company Overview

General Electric, operating primarily in the aerospace sector, designs and manufactures both commercial and defense aircraft engines as well as various energy systems. The company also provides aftermarket services globally, ensuring support for its products across numerous regions including the United States, Europe, and Asia.

Wealth, Investment, GeneralElectric