2,226 Shares in General Electric (NYSE:GE) Acquired by Marcum Wealth LLC

Posted by Defense World Staff on Jul 3rd, 2023

Marcum Wealth LLC acquired a new stake in General Electric (NYSE:GE – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,226 shares of the conglomerate’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First National Trust Co raised its position in shares of General Electric by 3.5% in the fourth quarter. First National Trust Co now owns 3,655 shares of the conglomerate’s stock valued at $306,000 after buying an additional 122 shares during the last quarter. TFO TDC LLC acquired a new position in General Electric in the 4th quarter valued at $31,000. Connecticut Wealth Management LLC boosted its holdings in shares of General Electric by 2.9% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,539 shares of the conglomerate’s stock worth $380,000 after purchasing an additional 127 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of General Electric by 1.4% during the fourth quarter. Park Avenue Securities LLC now owns 9,297 shares of the conglomerate’s stock worth $779,000 after purchasing an additional 127 shares during the last quarter. Finally, Heritage Investors Management Corp grew its position in shares of General Electric by 0.5% in the fourth quarter. Heritage Investors Management Corp now owns 25,569 shares of the conglomerate’s stock valued at $2,142,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $109.85 on Monday. The business has a 50 day moving average price of $103.09 and a two-hundred day moving average price of $91.77. General Electric has a fifty-two week low of $46.55 and a fifty-two week high of $110.26. The firm has a market cap of $119.62 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 7.76 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

General Electric (NYSE:GE – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.14. The business had revenue of $14.49 billion during the quarter, compared to analyst estimates of $13.46 billion. General Electric had a net margin of 11.85% and a return on equity of 9.45%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Sell-side analysts expect that General Electric will post 2.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Monday, July 10th. General Electric’s payout ratio is currently 4.17%.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 58,292 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $104.68, for a total value of $6,102,006.56. Following the completion of the sale, the senior vice president now directly owns 70,537 shares in the company, valued at approximately $7,383,813.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Michael J. Holston sold 58,292 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $104.68, for a total transaction of $6,102,006.56. Following the completion of the sale, the senior vice president now owns 70,537 shares of the company’s stock, valued at approximately $7,383,813.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas S. Timko sold 7,254 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $100.82, for a total transaction of $731,348.28. Following the completion of the transaction, the vice president now directly owns 20,953 shares in the company, valued at approximately $2,112,481.46. The disclosure for this sale can be found here. Insiders have sold a total of 239,419 shares of company stock valued at $24,144,151 in the last quarter. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. Wolfe Research increased their price objective on shares of General Electric from $107.00 to $125.00 in a report on Wednesday, June 28th. JPMorgan Chase & Co. upped their price objective on General Electric from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $97.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 12th. The Goldman Sachs Group raised their price objective on General Electric from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, April 14th. Finally, UBS Group boosted their target price on General Electric from $95.00 to $109.00 in a report on Thursday, April 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.19.

General Electric Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.