Woodstock Corp Decreases Stake in General Electric (NYSE:GE)

Woodstock Corp cut its stake in shares of General Electric (NYSE:GE) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,670 shares of the conglomerate’s stock after selling 150 shares during the quarter. Woodstock Corp’s holdings in General Electric were worth $2,780,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Newport Trust Company LLC purchased a new stake in General Electric in the second quarter valued at approximately $2,613,332,000. Jennison Associates LLC raised its position in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. International Assets Investment Management LLC lifted its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in shares of General Electric by 280.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,485,097 shares of the conglomerate’s stock worth $236,086,000 after acquiring an additional 1,095,093 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following 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 trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GE shares. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Price Performance

Shares of NYSE GE opened at $179.75 on Friday. 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 firm has a fifty day moving average of $174.36 and a 200 day moving average of $173.79. The firm has a market cap of $194.54 billion, a PE ratio of 31.59, a PEG ratio of 1.40 and a beta of 1.19. General Electric has a one year low of $100.95 and a one year high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

About General Electric

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.