General Electric (NYSE:GE) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC decreased its holdings in General Electric (NYSE:GE) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,866 shares of the conglomerate’s stock after selling 951 shares during the quarter. Worth Asset Management LLC’s holdings in General Electric were worth $645,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Studio Investment Management LLC raised its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter valued at about $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.3 %

GE traded up $0.51 on Wednesday, reaching $172.82. The company’s stock had a trading volume of 1,443,110 shares, compared to its average volume of 4,183,871. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80. The business’s 50 day moving average is $174.36 and its 200 day moving average is $173.28. 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 stock has a market cap of $187.04 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, research analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GE. Wells Fargo & Company upped their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, UBS Group lifted their price target 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. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Buying and Selling

In other news, 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 completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.