General Electric (NYSE:GE) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC lessened its stake in shares of General Electric (NYSE:GE) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,176 shares of the conglomerate’s stock after selling 72 shares during the quarter. Mutual Advisors LLC’s holdings in General Electric were worth $2,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC lifted its stake in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter worth about $733,000. State Street Corp lifted its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its position in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.80.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % 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 Stock Down 2.0 %

NYSE:GE opened at $196.81 on Friday. The firm has a market capitalization of $213.00 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The stock has a 50 day moving average of $174.93 and a 200-day moving average of $174.77. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. 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.