Choreo LLC Trims Stock Holdings in General Electric (NYSE:GE)

Choreo LLC reduced its holdings in General Electric (NYSE:GE) by 57.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,421 shares of the conglomerate’s stock after selling 70,310 shares during the quarter. Choreo LLC’s holdings in General Electric were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank raised its holdings in shares of General Electric by 5.9% in the 3rd quarter. Czech National Bank now owns 220,885 shares of the conglomerate’s stock worth $41,654,000 after purchasing an additional 12,298 shares during the period. Everpar Advisors LLC acquired a new stake in General Electric during the 3rd quarter valued at approximately $214,000. Miracle Mile Advisors LLC grew its position in shares of General Electric by 20.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,870 shares of the conglomerate’s stock worth $541,000 after acquiring an additional 481 shares in the last quarter. Fulton Bank N.A. grew its position in shares of General Electric by 8.4% in the 3rd quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock worth $350,000 after acquiring an additional 143 shares in the last quarter. Finally, Mather Group LLC. boosted its position in General Electric by 4.8% during the 3rd quarter. Mather Group LLC. now owns 18,289 shares of the conglomerate’s stock valued at $3,449,000 after purchasing an additional 845 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three investment 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, General Electric presently has an average rating of “Moderate Buy” and an average price target of $208.73.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

GE stock opened at $202.19 on Wednesday. The company’s fifty day simple moving average is $178.24 and its 200 day simple moving average is $177.16. General Electric has a 12-month low of $108.60 and a 12-month high of $207.65. The firm has a market cap of $218.83 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 2.53 and a beta of 1.21. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

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