Hedges Asset Management LLC Cuts Stake in General Electric (NYSE:GE)

Hedges Asset Management LLC trimmed its position in General Electric (NYSE:GE) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,025 shares of the conglomerate’s stock after selling 500 shares during the period. General Electric makes up approximately 4.1% of Hedges Asset Management LLC’s portfolio, making the stock its 2nd biggest position. Hedges Asset Management LLC’s holdings in General Electric were worth $6,175,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tsfg LLC grew its holdings in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its position in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares in the last quarter. Saxon Interests Inc. boosted its stake in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares during the last quarter. Strategic Advisors LLC increased its holdings in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly 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 transaction 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 that occurred on Wednesday, November 6th. The stock was 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 $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Up 6.5 %

GE stock opened at $200.66 on Friday. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $207.65. The stock has a fifty day moving average of $174.49 and a 200-day moving average of $174.59. The company has a market capitalization of $217.17 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, equities research analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.56%. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $201.47.

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.