Melfa Wealth Management Inc. Buys 71 Shares of General Electric (NYSE:GE)

by · The Markets Daily

Melfa Wealth Management Inc. lifted its stake in shares of General Electric (NYSE:GE – Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,818 shares of the conglomerate’s stock after acquiring an additional 71 shares during the period. General Electric makes up about 1.3% of Melfa Wealth Management Inc.’s investment portfolio, making the stock its 18th largest holding. Melfa Wealth Management Inc.’s holdings in General Electric were worth $1,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Tsfg LLC increased its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. Saxon Interests Inc. boosted its position in shares of General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after buying an additional 57 shares during the period. Strategic Advisors LLC grew its holdings in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its stake in General Electric by 0.5% in the 4th quarter. Chesley Taft & Associates LLC now owns 12,645 shares of the conglomerate’s stock valued at $2,109,000 after acquiring an additional 60 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GE. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

View Our Latest Research Report on General Electric

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 2.5 %

Shares of GE stock opened at $187.46 on Wednesday. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. The stock’s fifty day simple moving average is $174.39 and its 200 day simple moving average is $174.49. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $202.89 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS. As a group, sell-side analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is presently 19.68%.

About General Electric

(Free Report)

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.

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