Waterfront Wealth Inc. Takes $237,000 Position in General Electric (NYSE:GE)

Waterfront Wealth Inc. bought a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,854 shares of the conglomerate’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently modified their holdings of the business. Atlas Brown Inc. raised its position in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after buying an additional 85 shares during the last quarter. Capital Analysts LLC raised its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in General Electric by 9.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after buying an additional 91 shares during the last quarter. Ballast Advisors LLC raised its position in General Electric by 4.8% in the 4th quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after buying an additional 91 shares during the last quarter. Finally, King Wealth raised its position in General Electric by 3.2% in the 3rd quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock worth $330,000 after buying an additional 92 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GE. Bank of America reduced their price target on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. reduced their target price 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. The Goldman Sachs Group assumed coverage on shares of General Electric in a report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 target price for the company. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, StockNews.com assumed coverage on General Electric in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

General Electric Trading Up 1.3 %

NYSE:GE traded up $2.05 during midday trading on Thursday, hitting $157.72. 823,745 shares of the company traded hands, compared to its average volume of 7,908,133. The firm’s fifty day moving average is $158.87 and its 200-day moving average is $133.96. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. The firm has a market capitalization of $172.43 billion, a P/E ratio of 18.60, a P/E/G ratio of 3.07 and a beta of 1.29. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. General Electric’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 3.78 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a $0.28 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio (DPR) is presently 13.38%.

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.