Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of General Electric (NYSE:GE – Free Report) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,358 shares of the conglomerate’s stock after selling 203 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $1,728,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the 3rd quarter valued at approximately $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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 note on Wednesday, December 11th. Finally, 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 report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $201.47.
General Electric Trading Up 1.7 %
NYSE:GE opened at $182.83 on Friday. The stock has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 1 year low of $101.16 and a 1 year high of $194.80. The business has a fifty day moving average of $174.38 and a 200-day moving average of $173.83.
General Electric (NYSE:GE – Get Free Report) 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. 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 analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. General Electric’s revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that General Electric will post 4.23 earnings per share for the current year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is 19.68%.
Insiders Place Their Bets
In other news, SVP Russell Stokes sold 15,550 shares of General Electric 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents 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 currently owned by insiders.
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.
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