Segment Wealth Management LLC Sells 265 Shares of General Electric (NYSE:GE)

Segment Wealth Management LLC lessened its holdings in General Electric (NYSE:GE) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,830 shares of the conglomerate’s stock after selling 265 shares during the period. Segment Wealth Management LLC’s holdings in General Electric were worth $1,473,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GE. Tsfg LLC increased its stake in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares in the last quarter. Saxon Interests Inc. grew its stake in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares in the last quarter. Strategic Advisors LLC increased its stake in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares during the period. Finally, Meridian Management Co. lifted its holdings in General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after buying an additional 61 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction 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 directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GE. 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

GE opened at $182.83 on Tuesday. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. The business’s 50 day moving average is $174.33 and its 200-day moving average is $174.16.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. On average, analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is 19.68%.

About General Electric

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.