General Electric (NYSE:GE) Stock Holdings Decreased by WFA Asset Management Corp

WFA Asset Management Corp reduced its position in General Electric (NYSE:GE) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the conglomerate’s stock after selling 320 shares during the period. WFA Asset Management Corp’s holdings in General Electric were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Walker Asset Management LLC lifted its stake in General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after buying an additional 70 shares during the period. BKM Wealth Management LLC grew its holdings in General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after buying an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock worth $550,000 after buying an additional 74 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in General Electric by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after buying an additional 75 shares in the last quarter. Finally, Forte Capital LLC ADV grew its holdings in General Electric by 2.1% during the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock worth $519,000 after buying an additional 83 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GE shares. Citigroup upped their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. increased their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Bank of America increased their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE traded up $2.51 during midday trading on Wednesday, reaching $163.96. 1,458,190 shares of the company’s stock traded hands, compared to its average volume of 7,262,279. The company has a market cap of $179.47 billion, a price-to-earnings ratio of 53.75, a P/E/G ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a one year low of $84.42 and a one year high of $170.80. The stock has a 50 day moving average of $162.51 and a 200 day moving average of $152.12.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 4 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.