Lyell Wealth Management LP Invests $2.892 Million in General Electric Company (GE)

Lyell Wealth Management LP acquired a new position in shares of General Electric Company (NYSE:GE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 90,844 shares of the conglomerate’s stock, valued at approximately $2,892,000. General Electric Company makes up 1.8% of Lyell Wealth Management LP’s investment portfolio, making the stock its 13th largest position.

A number of other large investors also recently made changes to their positions in GE. Baker Boyer National Bank increased its position in General Electric Company by 19.9% in the third quarter. Baker Boyer National Bank now owns 23,444 shares of the conglomerate’s stock worth $695,000 after buying an additional 3,883 shares in the last quarter. Culbertson A N & Co. Inc. increased its position in General Electric Company by 1.6% in the third quarter. Culbertson A N & Co. Inc. now owns 182,330 shares of the conglomerate’s stock worth $5,401,000 after buying an additional 2,907 shares in the last quarter. North Star Investment Management Corp. increased its position in General Electric Company by 1.7% in the third quarter. North Star Investment Management Corp. now owns 290,198 shares of the conglomerate’s stock worth $8,596,000 after buying an additional 4,791 shares in the last quarter. First United Bank Trust increased its position in General Electric Company by 5.6% in the third quarter. First United Bank Trust now owns 61,720 shares of the conglomerate’s stock worth $1,827,000 after buying an additional 3,247 shares in the last quarter. Finally, Perkins Coie Trust Co increased its position in General Electric Company by 3.6% in the third quarter. Perkins Coie Trust Co now owns 43,852 shares of the conglomerate’s stock worth $1,298,000 after buying an additional 1,518 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for General Electric Company (NYSE:GE)

Shares of General Electric Company (NYSE:GE) traded down 2.052% during midday trading on Friday, reaching $29.649. The company’s stock had a trading volume of 53,182,453 shares. General Electric Company has a 12-month low of $28.19 and a 12-month high of $33.00. The company has a market cap of $258.68 billion, a P/E ratio of 33.202 and a beta of 1.20. The stock’s 50-day moving average price is $29.83 and its 200-day moving average price is $30.23. General Electric Company also was the recipient of unusually large options trading on Thursday. Stock investors bought 2,590 call options on the company. This represents an increase of 143% compared to the average daily volume of 1,064 call options.

General Electric Company (NYSE:GE) last issued its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. The firm earned $27.66 billion during the quarter, compared to the consensus estimate of $26.37 billion. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. On average, analysts expect that General Electric Company will post $1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, February 27th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.17%. General Electric Company’s payout ratio is currently 106.67%.

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A number of analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of General Electric Company in a research report on Monday, March 6th. Credit Suisse Group AG restated a “buy” rating and issued a $34.00 price target on shares of General Electric Company in a research report on Tuesday, April 11th. JPMorgan Chase & Co. restated a “sell” rating and issued a $27.00 price target on shares of General Electric Company in a research report on Tuesday, March 28th. Sanford C. Bernstein set a $38.00 price target on General Electric Company and gave the stock a “buy” rating in a research report on Friday, February 24th. Finally, Barclays PLC reiterated an “overweight” rating and set a $36.00 target price on shares of General Electric Company in a research report on Monday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.02.

In related news, insider Jeffrey S. Bornstein acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was purchased at an average cost of $29.63 per share, for a total transaction of $148,150.00. Following the purchase, the insider now directly owns 68,757 shares in the company, valued at $2,037,269.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman David Leon Joyce sold 159,662 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $29.56, for a total value of $4,719,608.72. Following the transaction, the insider now owns 738,907 shares of the company’s stock, valued at approximately $21,842,090.92. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

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