Sprinkle Financial Consultants LLC Reduces Holdings in General Electric (NYSE:GE)

Sprinkle Financial Consultants LLC lowered its position in shares of General Electric (NYSE:GE) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,333 shares of the conglomerate’s stock after selling 300 shares during the period. Sprinkle Financial Consultants LLC’s holdings in General Electric were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the 3rd quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent research reports. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised 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. Three 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Performance

Shares of GE stock opened at $205.32 on Friday. The stock has a fifty day moving average price of $179.22 and a 200 day moving average price of $177.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $220.37 billion, a PE ratio of 34.28, a P/E/G ratio of 2.53 and a beta of 1.22. General Electric has a 1 year low of $110.57 and a 1 year high of $207.84.

General Electric (NYSE:GE) last released its quarterly earnings results 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 22.19% and a net margin of 14.31%. Sell-side analysts forecast that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.