Sfmg LLC Lowers Position in General Electric (NYSE:GE)

Sfmg LLC lessened its stake in General Electric (NYSE:GE) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the conglomerate’s stock after selling 297 shares during the period. Sfmg LLC’s holdings in General Electric were worth $255,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of General Electric by 17.3% during the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after buying an additional 7,157,356 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of General Electric by 122,242.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp lifted its position in shares of General Electric by 4.0% during the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Morgan Stanley lifted its holdings in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after purchasing an additional 434,736 shares in the last quarter. Finally, Norges Bank purchased a new position in General Electric in the 4th quarter valued at $635,274,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GE. Bank of America decreased their price objective on General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Wells Fargo & Company decreased their price objective on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Jefferies Financial Group decreased their price objective on General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.07.

General Electric Price Performance

GE stock opened at $155.67 on Thursday. The business has a 50 day moving average price of $158.87 and a 200 day moving average price of $133.96. The stock has a market cap of $170.19 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.07 and a beta of 1.29. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $158.68. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Equities research analysts anticipate that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a dividend of $0.28 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.72%. General Electric’s payout ratio is 13.38%.

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.