RMR Wealth Builders Lowers Holdings in General Electric (NYSE:GE)

RMR Wealth Builders reduced its stake in General Electric (NYSE:GE) by 16.7% during the fourth quarter, HoldingsChannel reports. The fund owned 1,244 shares of the conglomerate’s stock after selling 249 shares during the period. RMR Wealth Builders’ holdings in General Electric were worth $207,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in General Electric in the 2nd quarter worth approximately $556,000. Argent Trust Co increased its holdings in shares of General Electric by 0.6% in the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after purchasing an additional 64 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in General Electric by 7.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,457 shares of the conglomerate’s stock valued at $3,411,000 after purchasing an additional 1,424 shares in the last quarter. Blair William & Co. IL raised its position in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after purchasing an additional 7,670 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of General Electric in the second quarter valued at $560,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction 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 owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GE. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

GE opened at $179.75 on Friday. The firm’s 50-day moving average price is $174.36 and its 200-day moving average price is $173.79. The company has a market cap of $194.54 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $100.95 and a 52-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 analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid 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 yield of 0.62%. General Electric’s payout ratio is presently 19.68%.

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.