John G Ullman & Associates Inc. Sells 3,124 Shares of General Electric (NYSE:GE)

John G Ullman & Associates Inc. cut its holdings in shares of General Electric (NYSE:GE) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,049 shares of the conglomerate’s stock after selling 3,124 shares during the quarter. John G Ullman & Associates Inc.’s holdings in General Electric were worth $2,649,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GE. Cypress Capital Group increased its stake in General Electric by 3.5% during the third quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock valued at $351,000 after acquiring an additional 63 shares during the period. Cornerstone Advisors LLC increased its position in shares of General Electric by 1.6% during the third quarter. Cornerstone Advisors LLC now owns 50,500 shares of the conglomerate’s stock valued at $9,523,000 after purchasing an additional 800 shares during the period. Citizens Financial Group Inc. RI lifted its position in General Electric by 20.1% in the third quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock worth $1,628,000 after purchasing an additional 1,445 shares during the period. Payden & Rygel boosted its stake in General Electric by 0.5% during the third quarter. Payden & Rygel now owns 64,200 shares of the conglomerate’s stock worth $12,107,000 after buying an additional 300 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new position in shares of General Electric in the 3rd quarter valued at $243,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of GE opened at $177.98 on Thursday. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm’s 50 day moving average price is $182.98 and its two-hundred day moving average price is $170.96. The firm has a market cap of $192.63 billion, a P/E ratio of 31.28, a PEG ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results 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 for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.