General Electric (NYSE:GE) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC cut its position in shares of General Electric (NYSE:GE) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,956 shares of the conglomerate’s stock after selling 203 shares during the period. Connecticut Wealth Management LLC’s holdings in General Electric were worth $760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Halpern Financial Inc. increased its position in shares of General Electric by 968.4% in the fourth 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 acquired a new stake in General Electric in the 4th quarter valued at $27,000. CGC Financial Services LLC increased its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC raised its position in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC purchased a new position in General Electric during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Argus boosted their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Bank of America raised their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group boosted their price target on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $172.29.

General Electric Trading Up 0.9 %

Shares of NYSE GE traded up $1.47 during midday trading on Friday, reaching $164.11. 3,968,626 shares of the stock were exchanged, compared to its average volume of 7,987,890. The stock has a market capitalization of $179.64 billion, a P/E ratio of 53.81, a PEG ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a 50 day simple moving average of $161.93 and a 200 day simple moving average of $138.30. General Electric has a twelve month low of $77.93 and a twelve month high of $166.26.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is presently 36.72%.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

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.