General Electric (NYSE:GE) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its holdings in shares of General Electric (NYSE:GE) by 48.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,893 shares of the conglomerate’s stock after selling 5,502 shares during the period. Sigma Planning Corp’s holdings in General Electric were worth $752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in General Electric in the third quarter worth approximately $224,000. Summit Global Investments acquired a new stake in General Electric during the 3rd quarter valued at $218,000. RFG Advisory LLC grew its holdings in shares of General Electric by 9.6% during the 3rd quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock valued at $353,000 after acquiring an additional 280 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of General Electric by 6.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock valued at $2,923,000 after acquiring an additional 1,706 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of General Electric by 25.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 794 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of General Electric stock opened at $162.62 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The firm has a market cap of $177.79 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.96 and a beta of 1.29. The firm has a 50 day simple moving average of $159.94 and a 200 day simple moving average of $135.39. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 13.38%.

Insider Activity

In other news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction 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 owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GE shares. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Jefferies Financial Group cut their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Vertical Research began coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Finally, Bank of America cut their price target on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $160.07.

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.