Silver Oak Securities Incorporated Lowers Stock Position in General Electric (NYSE:GE)

Silver Oak Securities Incorporated trimmed its holdings in shares of General Electric (NYSE:GE) by 22.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,816 shares of the conglomerate’s stock after selling 1,108 shares during the period. Silver Oak Securities Incorporated’s holdings in General Electric were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Tsfg LLC increased its stake in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares in the last quarter. Saxon Interests Inc. grew its holdings in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares during the last quarter. Old North State Wealth Management LLC increased its position in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after buying an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company upped their price objective on shares of 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 target price 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, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Price Performance

GE opened at $205.32 on Friday. General Electric has a 52-week low of $110.57 and a 52-week high of $207.84. The company has a 50 day moving average of $179.22 and a two-hundred day moving average of $177.55. The company has a market cap of $220.37 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.53 and a beta of 1.22. 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 announced its quarterly 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 business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.55%. General Electric’s payout ratio is currently 18.70%.

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.