General Electric (NYSE:GE) Shares Sold by Provence Wealth Management Group

Provence Wealth Management Group trimmed its position in General Electric (NYSE:GE) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,016 shares of the conglomerate’s stock after selling 90 shares during the quarter. Provence Wealth Management Group’s holdings in General Electric were worth $385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its stake in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric during the fourth quarter worth approximately $27,000. CGC Financial Services LLC grew its position in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares during the last quarter. Capital Analysts LLC increased its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $32,000. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were 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 in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GE shares. Barclays decreased their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Bank of America boosted their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup raised their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.29.

General Electric Stock Up 0.9 %

Shares of NYSE GE traded up $1.47 during mid-day trading on Friday, reaching $164.11. The company had a trading volume of 3,968,626 shares, compared to its average volume of 7,987,890. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a twelve month low of $77.93 and a twelve month high of $166.26. The stock’s 50 day moving average is $161.93 and its 200-day moving average is $137.89. The stock has a market capitalization of $179.64 billion, a PE ratio of 53.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that General Electric will post 3.96 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.