General Electric (NYSE:GE) Stake Boosted by Alliance Wealth Management Group

Alliance Wealth Management Group grew its holdings in General Electric (NYSE:GE) by 92.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,074 shares of the conglomerate’s stock after purchasing an additional 14,910 shares during the period. Alliance Wealth Management Group’s holdings in General Electric were worth $748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Peak Financial Management Inc. grew its position in General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after acquiring an additional 25 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after buying an additional 67 shares during the period. NorthRock Partners LLC lifted its holdings in General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after buying an additional 80 shares during the period. Valmark Advisers Inc. lifted its holdings in General Electric by 1.4% during the 2nd quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after buying an additional 138 shares during the period. Finally, Shapiro Capital Management LLC lifted its holdings in General Electric by 0.8% during the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after buying an additional 147 shares during the period. Institutional investors own 56.42% of the company’s stock.

Shares of General Electric (NYSE:GE) traded down $0.17 during trading hours on Wednesday, hitting $14.27. The stock had a trading volume of 57,070,000 shares, compared to its average volume of 84,820,000. General Electric has a 12 month low of $13.95 and a 12 month high of $30.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market cap of $123,900.00, a P/E ratio of -47.57, a price-to-earnings-growth ratio of 2.86 and a beta of 1.00.

General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. research analysts predict that General Electric will post 0.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is currently -160.00%.

GE has been the topic of several recent research reports. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup cut their target price on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Stifel Nicolaus set a $18.00 target price on General Electric and gave the stock a “neutral” rating in a report on Monday, December 11th. Cowen reaffirmed a “market perform” rating and set a $15.00 target price (down from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS Group initiated coverage on General Electric in a report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.27.

In other news, insider Alexander Dimitrief purchased 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

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General Electric Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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