WealthPLAN Partners LLC Lowers Stake in General Electric (NYSE:GE)

WealthPLAN Partners LLC lowered its stake in shares of General Electric (NYSE:GE) by 7.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,319 shares of the conglomerate’s stock after selling 186 shares during the period. WealthPLAN Partners LLC’s holdings in General Electric were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its holdings in General Electric by 10.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 19,595 shares of the conglomerate’s stock worth $3,268,000 after buying an additional 1,836 shares in the last quarter. Campbell Wealth Management acquired a new stake in General Electric during the 4th quarter worth approximately $261,000. Vicus Capital lifted its holdings in General Electric by 5.8% during the 4th quarter. Vicus Capital now owns 1,348 shares of the conglomerate’s stock worth $225,000 after buying an additional 74 shares in the last quarter. Pictet North America Advisors SA lifted its holdings in General Electric by 2.5% during the 4th quarter. Pictet North America Advisors SA now owns 34,528 shares of the conglomerate’s stock worth $5,759,000 after buying an additional 854 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in General Electric by 53.8% during the 4th quarter. Banque Pictet & Cie SA now owns 6,484 shares of the conglomerate’s stock worth $1,081,000 after buying an additional 2,268 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.1 %

Shares of General Electric stock opened at $208.62 on Friday. General Electric has a 1 year low of $117.43 and a 1 year high of $211.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $223.91 billion, a P/E ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The company’s fifty day moving average is $182.66 and its two-hundred day moving average is $179.25.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is presently 18.70%.

Insider Activity

In other news, 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

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.