Douglas Lane & Associates LLC Cuts Stake in General Electric (NYSE:GE)

Douglas Lane & Associates LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 593,133 shares of the conglomerate’s stock after selling 28,471 shares during the period. General Electric comprises 1.4% of Douglas Lane & Associates LLC’s holdings, making the stock its 15th largest holding. Douglas Lane & Associates LLC’s holdings in General Electric were worth $98,929,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GE. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $28,000. Finally, Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Trading Up 0.5 %

NYSE:GE traded up $0.89 on Wednesday, reaching $173.20. The company’s stock had a trading volume of 1,953,948 shares, compared to its average volume of 4,274,785. The stock has a 50 day moving average price of $174.36 and a 200 day moving average price of $173.28. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $187.45 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

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.