Sen. Shelley Moore Capito Buys General Electric (NYSE:GE) Shares

Senator Shelley Moore Capito (R-West Virginia) recently bought shares of General Electric (NYSE:GE). In a filing disclosed on January 06th, the Senator disclosed that they had bought between $1,001 and $15,000 in General Electric stock on December 27th.

Senator Shelley Moore Capito also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 12/16/2024.
• Sold $1,001 – $15,000 in shares of Lowe’s Companies (NYSE:LOW) on 12/13/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Carlisle Companies (NYSE:CSL) on 10/8/2024.

General Electric Stock Performance

Shares of GE stock opened at $172.54 on Tuesday. The stock has a market capitalization of $186.74 billion, a PE ratio of 30.32, a P/E/G ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $99.37 and a 52 week high of $194.80. The firm has a 50 day moving average of $174.39 and a two-hundred day moving average of $173.23.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein increased their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter valued at about $28,000. Finally, Studio Investment Management LLC raised its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

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

About Senator Capito

Shelley Moore Capito (Republican Party) is a member of the U.S. Senate from West Virginia. She assumed office on January 3, 2015. Her current term ends on January 3, 2027. Capito (Republican Party) ran for re-election to the U.S. Senate to represent West Virginia. She won in the general election on November 3, 2020. Capito was first elected to the Senate in 2014, becoming the first female U.S. Senator in the state’s history. Prior to serving in the Senate, Capito was a member of the West Virginia House of Representatives from 1997 to 2001 and a member of the United States House of Representatives from 2001 to 2015. At the start of the 116th Congress, Capito was a member of the U.S. Senate committees on Appropriations, Commerce, Science, and Transportation, Environment and Public Works, and Rules and Administration. As of a 2014 analysis of multiple outside rankings, Capito is a more moderate right of center Republican Party vote. As a result, she may break with the Republican Party line more than her fellow members. Capito earned her bachelor’s degree from Duke University. After earning her M.Ed. from the University of Virginia, Capito was a college counselor and then director of an educational information center. She was the only Republican in the West Virginia congressional delegation until the 2010 elections and is the first Republican woman elected to Congress from West Virginia. Capito is a former chairwoman of the Congressional Caucus for Women’s Issues, as well as a member of the Congressional Arts Caucus. After an explosion responsible for the death of 29 coal workers, Capito founded the Congressional Coal Caucus. Prior to her election to the U.S. House, Capito served in the West Virginia House of Delegates.

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.