Nicholas Hoffman & Company LLC. Sells 762 Shares of General Electric (NYSE:GE)

Nicholas Hoffman & Company LLC. trimmed its holdings in shares of General Electric (NYSE:GE) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,476 shares of the conglomerate’s stock after selling 762 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in General Electric were worth $435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Halpern Financial Inc. lifted its stake in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter worth $27,000. CGC Financial Services LLC boosted its holdings in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC grew its position in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of General Electric during the 4th quarter valued at $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GE. JPMorgan Chase & Co. cut their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Bank of America raised their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $172.29.

General Electric Price Performance

Shares of NYSE GE traded down $2.74 during trading hours on Tuesday, reaching $161.75. 6,722,311 shares of the stock traded hands, compared to its average volume of 8,063,052. The company’s 50-day simple moving average is $161.29 and its two-hundred day simple moving average is $137.17. The company has a market capitalization of $177.05 billion, a P/E ratio of 53.03, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. General Electric has a 52-week low of $77.93 and a 52-week high of $166.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

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

Insider Buying and Selling at General Electric

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