Contravisory Investment Management Inc. Sells 245 Shares of General Electric (NYSE:GE)

Contravisory Investment Management Inc. lowered its stake in shares of General Electric (NYSE:GE) by 7.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,146 shares of the conglomerate’s stock after selling 245 shares during the period. Contravisory Investment Management Inc.’s holdings in General Electric were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Essex Savings Bank lifted its stake in shares of General Electric by 2.0% during the fourth quarter. Essex Savings Bank now owns 3,304 shares of the conglomerate’s stock valued at $551,000 after acquiring an additional 64 shares during the period. St. Louis Financial Planners Asset Management LLC lifted its position in General Electric by 5.4% during the 4th quarter. St. Louis Financial Planners Asset Management LLC now owns 21,559 shares of the conglomerate’s stock valued at $3,596,000 after purchasing an additional 1,097 shares during the period. ARS Wealth Advisors Group LLC boosted its stake in shares of General Electric by 13.2% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 2,291 shares of the conglomerate’s stock valued at $382,000 after purchasing an additional 268 shares during the last quarter. Smith Anglin Financial LLC raised its stake in shares of General Electric by 2.6% during the fourth quarter. Smith Anglin Financial LLC now owns 3,491 shares of the conglomerate’s stock worth $582,000 after buying an additional 90 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in General Electric by 5.1% in the fourth quarter. Laurel Wealth Advisors LLC now owns 2,052 shares of the conglomerate’s stock valued at $342,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $180.34 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business has a 50-day moving average of $174.37 and a 200-day moving average of $173.74. The stock has a market capitalization of $195.18 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.40 and a beta of 1.19. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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 given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s payout ratio is 19.68%.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction 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 represents 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 owned by company insiders.

Analysts Set New Price Targets

GE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.47.

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.