General Electric (NYSE:GE) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. reduced its stake in General Electric (NYSE:GE) by 8.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,537 shares of the conglomerate’s stock after selling 135 shares during the period. Valley National Advisers Inc.’s holdings in General Electric were worth $256,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC boosted its holdings in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Jennison Associates LLC grew its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after purchasing an additional 457,038 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other news, 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 value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GE. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target 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 equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Price Performance

Shares of NYSE:GE opened at $203.59 on Monday. The company has a market cap of $220.35 billion, a PE ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. General Electric has a fifty-two week low of $105.70 and a fifty-two week high of $207.65. The firm has a 50-day simple moving average of $177.41 and a 200 day simple moving average of $176.40. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts anticipate that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.