Armstrong Henry H Associates Inc. Lowers Stock Position in General Electric (NYSE:GE)

Armstrong Henry H Associates Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,043 shares of the conglomerate’s stock after selling 463 shares during the period. General Electric accounts for approximately 0.2% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 26th biggest position. Armstrong Henry H Associates Inc.’s holdings in General Electric were worth $2,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in General Electric during the 3rd quarter valued at approximately $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company lifted their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Price Performance

Shares of GE opened at $171.48 on Tuesday. The firm has a market cap of $185.59 billion, a PE ratio of 30.14, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $100.95 and a 1-year high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $174.34 and a two-hundred day simple moving average of $173.62.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts anticipate that General Electric will post 4.24 EPS for the current 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 dividend payout ratio (DPR) is presently 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.