Highland Capital Management LLC Sells 11,675 Shares of General Electric (NYSE:GE)

Highland Capital Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 63.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,768 shares of the conglomerate’s stock after selling 11,675 shares during the period. Highland Capital Management LLC’s holdings in General Electric were worth $1,129,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GE. New England Research & Management Inc. lifted its holdings in General Electric by 174.1% during the 4th quarter. New England Research & Management Inc. now owns 7,975 shares of the conglomerate’s stock worth $1,330,000 after buying an additional 5,065 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of General Electric by 32.2% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,267 shares of the conglomerate’s stock valued at $1,379,000 after acquiring an additional 2,012 shares during the period. Hanson & Doremus Investment Management boosted its holdings in General Electric by 11.0% in the fourth quarter. Hanson & Doremus Investment Management now owns 3,781 shares of the conglomerate’s stock valued at $631,000 after acquiring an additional 374 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in General Electric in the fourth quarter worth about $847,000. Finally, Swedbank AB raised its holdings in General Electric by 0.4% during the 4th quarter. Swedbank AB now owns 137,072 shares of the conglomerate’s stock worth $22,862,000 after purchasing an additional 511 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Trading Up 3.4 %

Shares of General Electric stock opened at $205.89 on Friday. The firm’s 50-day moving average price is $176.42 and its two-hundred day moving average price is $175.79. The company has a market capitalization of $222.83 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.53 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 12-month low of $105.70 and a 12-month high of $207.65.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating 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%. On average, analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $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. Insiders own 0.66% of the company’s stock.

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.