General Electric (NYSE:GE) Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. decreased its position in General Electric (NYSE:GE) by 15.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,715 shares of the conglomerate’s stock after selling 320 shares during the period. Cidel Asset Management Inc.’s holdings in General Electric were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter valued at $27,000. Hager Investment Management Services LLC bought a new position in General Electric during the 4th quarter valued at $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

General Electric Trading Down 0.4 %

General Electric stock opened at $205.32 on Friday. The stock has a market cap of $220.37 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 12 month low of $110.57 and a 12 month high of $207.84. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $179.68 and its 200-day simple moving average is $177.85.

General Electric (NYSE:GE) last posted 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 return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts forecast that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GE. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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 currently has an average rating of “Moderate Buy” and an average price target of $208.73.

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.