General Electric (NYSE:GE) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its holdings in shares of General Electric (NYSE:GE) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,356 shares of the conglomerate’s stock after selling 5,901 shares during the quarter. Exchange Traded Concepts LLC’s holdings in General Electric were worth $9,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the third quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Electric during the fourth quarter worth about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $196.81 on Friday. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $213.00 billion, a PE ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. The company’s 50 day moving average price is $174.93 and its 200 day moving average price is $174.77.

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

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

GE has been the topic of several recent research reports. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday. 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, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $205.80.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 13,289 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Company 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.