DiNuzzo Private Wealth Inc. Takes Position in General Electric (NYSE:GE)

DiNuzzo Private Wealth Inc. acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 367 shares of the conglomerate’s stock, valued at approximately $47,000.

A number of other large investors have also made changes to their positions in the stock. Prime Capital Investment Advisors LLC raised its position in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp raised its position in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after purchasing an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after purchasing an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC raised its position in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in General Electric in the third quarter worth about $1,846,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric 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 sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Wells Fargo & Company increased their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

General Electric Price Performance

Shares of GE stock opened at $159.70 on Thursday. General Electric has a 52-week low of $77.93 and a 52-week high of $166.26. The stock has a market cap of $174.81 billion, a PE ratio of 52.36, a PEG ratio of 2.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm’s 50 day moving average price is $161.50 and its two-hundred day moving average price is $137.33.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts forecast that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a $0.28 dividend. The ex-dividend date was Friday, April 12th. 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 0.70%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.