2,609 Shares in General Electric (NYSE:GE) Bought by Triangle Securities Wealth Management

Posted by Jessica Moore on Mar 19th, 2023

Triangle Securities Wealth Management purchased a new position in shares of General Electric (NYSE:GE – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,609 shares of the conglomerate’s stock, valued at approximately $219,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. boosted its position in General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares during the period. MADDEN SECURITIES Corp purchased a new stake in General Electric during the 4th quarter worth $28,000. Coston McIsaac & Partners purchased a new position in General Electric in the 2nd quarter valued at about $25,000. Standard Family Office LLC purchased a new position in General Electric in the 3rd quarter valued at about $29,000. Finally, RE Dickinson Investment Advisors LLC boosted its position in General Electric by 37.5% in the 3rd quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock valued at $30,000 after buying an additional 130 shares during the last quarter. 70.12% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 1.8 %

GE opened at $90.29 on Friday. General Electric has a fifty-two week low of $46.55 and a fifty-two week high of $94.94. The company’s 50-day moving average price is $83.12 and its 200 day moving average price is $78.75. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.13. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The firm had revenue of $21.79 billion for the quarter, compared to analyst estimates of $22.11 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. General Electric’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that General Electric will post 1.97 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Tuesday, March 7th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s dividend payout ratio (DPR) is -1,066.67%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GE. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $89.00 to $94.00 in a research report on Monday, December 5th. Wells Fargo & Company decreased their price objective on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 25th. Barclays upped their price objective on shares of General Electric from $81.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Bank of America upped their price objective on shares of General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Finally, The Goldman Sachs Group upped their target price on shares of General Electric from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, March 13th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

General Electric Company Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.