General Electric (NYSE:GE) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its stake in shares of General Electric (NYSE:GE) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,906 shares of the conglomerate’s stock after selling 63 shares during the quarter. GC Wealth Management RIA LLC’s holdings in General Electric were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the fourth quarter worth approximately $733,000. State Street Corp lifted 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 last quarter. Chung Wu Investment Group LLC purchased a new stake in General Electric during the fourth quarter worth approximately $795,000. Soltis Investment Advisors LLC lifted its stake in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 0.1 %

Shares of GE stock opened at $191.89 on Wednesday. The business’s fifty day moving average price is $193.99 and its 200 day moving average price is $183.50. General Electric has a 1-year low of $131.14 and a 1-year high of $212.19. The firm has a market capitalization of $205.95 billion, a PE ratio of 32.03, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.75%. General Electric’s dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. 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 research note on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.