WFA Asset Management Corp Trims Position in General Electric (NYSE:GE)

WFA Asset Management Corp decreased its holdings in shares of General Electric (NYSE:GE) by 39.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 887 shares of the conglomerate’s stock after selling 585 shares during the period. WFA Asset Management Corp’s holdings in General Electric were worth $148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC increased its stake in General Electric by 392.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 54,064 shares of the conglomerate’s stock valued at $9,017,000 after buying an additional 43,089 shares during the period. Golden State Equity Partners raised its holdings in General Electric by 255.2% during the fourth quarter. Golden State Equity Partners now owns 1,236 shares of the conglomerate’s stock worth $206,000 after purchasing an additional 888 shares in the last quarter. Avantra Family Wealth Inc. acquired a new stake in General Electric in the fourth quarter valued at about $562,000. Spire Wealth Management lifted its position in General Electric by 32.0% in the fourth quarter. Spire Wealth Management now owns 8,229 shares of the conglomerate’s stock valued at $1,372,000 after purchasing an additional 1,993 shares during the period. Finally, Journey Strategic Wealth LLC boosted its holdings in General Electric by 1.8% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,940 shares of the conglomerate’s stock valued at $824,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’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 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. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GE shares. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. 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 report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Down 1.0 %

Shares of NYSE:GE opened at $203.59 on Friday. General Electric has a 52-week low of $105.70 and a 52-week high of $207.65. The company has a market capitalization of $220.35 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. The stock’s fifty day simple moving average is $177.41 and its 200-day simple moving average is $176.40. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings results 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 22.19% and a net margin of 14.31%. As a group, equities research analysts forecast that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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 yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

General Electric 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.