SteelPeak Wealth LLC Decreases Stock Position in General Electric (NYSE:GE)

SteelPeak Wealth LLC trimmed its position in shares of General Electric (NYSE:GE) by 35.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,962 shares of the conglomerate’s stock after selling 1,068 shares during the period. SteelPeak Wealth LLC’s holdings in General Electric were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Investment Group grew its stake in shares of General Electric by 4.9% during the fourth quarter. Kennedy Investment Group now owns 1,655 shares of the conglomerate’s stock valued at $276,000 after acquiring an additional 77 shares in the last quarter. BSW Wealth Partners boosted its holdings in General Electric by 15.8% in the fourth quarter. BSW Wealth Partners now owns 3,042 shares of the conglomerate’s stock valued at $507,000 after purchasing an additional 416 shares during the last quarter. Perigon Wealth Management LLC grew its stake in General Electric by 8.9% during the 4th quarter. Perigon Wealth Management LLC now owns 15,014 shares of the conglomerate’s stock valued at $2,699,000 after purchasing an additional 1,222 shares in the last quarter. VCI Wealth Management LLC increased its holdings in General Electric by 19.3% during the 4th quarter. VCI Wealth Management LLC now owns 10,474 shares of the conglomerate’s stock worth $1,747,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its position in shares of General Electric by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the conglomerate’s stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Transactions at General Electric

In other General Electric news, 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 value 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. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,267,910.00. Following the transaction, the senior vice president now 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 position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $205.89 on Friday. The firm’s 50 day moving average is $176.42 and its two-hundred day moving average is $175.79. The firm has a market capitalization of $222.83 billion, a P/E ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $105.70 and a 52 week high of $207.65.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.