Tempus Wealth Planning LLC Decreases Stake in General Electric (NYSE:GE)

Tempus Wealth Planning LLC reduced its stake in General Electric (NYSE:GE) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,540 shares of the conglomerate’s stock after selling 2,758 shares during the period. General Electric makes up 4.5% of Tempus Wealth Planning LLC’s portfolio, making the stock its largest holding. Tempus Wealth Planning LLC’s holdings in General Electric were worth $14,768,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GE. State Street Corp grew its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its stake in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Jennison Associates LLC boosted its stake in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 purchasing an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 valued at $774,458,000 after purchasing an additional 457,038 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 0.2 %

NYSE GE opened at $204.03 on Tuesday. The stock has a 50 day simple moving average of $177.41 and a two-hundred day simple moving average of $176.54. General Electric has a fifty-two week low of $108.60 and a fifty-two week high of $207.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $220.81 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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, analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

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

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GE. Bank of America lifted their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Three 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, the company presently has an average rating of “Moderate Buy” and an average price target of $208.73.

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.