General Electric (NYSE:GE) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in shares of General Electric (NYSE:GE) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,846 shares of the conglomerate’s stock after selling 131 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $1,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC boosted its stake in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after acquiring an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after acquiring an additional 22,998 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of General Electric during the 3rd quarter worth $1,846,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Argus raised their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Wells Fargo & Company decreased their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Citigroup raised their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group decreased their target price on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $170.00.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Performance

Shares of NYSE:GE traded up $1.09 during midday trading on Friday, hitting $162.35. The company’s stock had a trading volume of 5,898,021 shares, compared to its average volume of 9,321,559. The stock has a market capitalization of $177.71 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 3.03 and a beta of 1.29. The stock’s 50 day simple moving average is $160.72 and its 200 day simple moving average is $136.09. General Electric has a fifty-two week low of $77.28 and a fifty-two week high of $163.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. As a group, research analysts anticipate that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.