Mount Vernon Associates Inc. MD grew its stake in shares of General Electric (NYSE:GE) by 84.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,475 shares of the conglomerate’s stock after acquiring an additional 36,860 shares during the period. General Electric accounts for approximately 2.1% of Mount Vernon Associates Inc. MD’s portfolio, making the stock its 20th largest holding. Mount Vernon Associates Inc. MD’s holdings in General Electric were worth $1,404,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of GE. Cutter & CO Brokerage Inc. raised its position in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after buying an additional 67 shares in the last quarter. NorthRock Partners LLC raised its position in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 80 shares in the last quarter. Shapiro Capital Management LLC raised its position in General Electric by 0.8% during the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 147 shares in the last quarter. CFO4Life Group LLC raised its position in General Electric by 0.9% during the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after purchasing an additional 152 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in General Electric by 0.3% during the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 56.30% of the company’s stock.
Shares of NYSE:GE opened at $13.49 on Monday. General Electric has a 12-month low of $12.73 and a 12-month high of $30.54. The stock has a market cap of $114,436.36, a PE ratio of 12.85, a P/E/G ratio of 2.56 and a beta of 1.02. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.56%. General Electric’s payout ratio is presently 45.71%.
A number of equities research analysts have weighed in on GE shares. Morningstar set a $23.50 price target on General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research report on Wednesday, January 10th. Citigroup lowered their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Finally, Barclays started coverage on General Electric in a research report on Thursday, February 15th. They set an “equal weight” rating and a $16.00 price target on the stock. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $17.86.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.12% of the stock is owned by company insiders.
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General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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