Chickasaw Capital Management LLC Decreases Stake in General Electric (NYSE:GE)

Chickasaw Capital Management LLC cut its holdings in shares of General Electric (NYSE:GE) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,859 shares of the conglomerate’s stock after selling 105 shares during the quarter. Chickasaw Capital Management LLC’s holdings in General Electric were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. State Street Corp boosted 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 valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC grew its holdings in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Newport Trust Company LLC purchased a new stake in General Electric in the second quarter valued at approximately $2,613,332,000. Legal & General Group Plc grew its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein increased their price target 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. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.1 %

Shares of NYSE:GE traded down $0.16 during trading on Tuesday, hitting $172.29. The stock had a trading volume of 3,835,719 shares, compared to its average volume of 4,165,417. The company has a market capitalization of $186.47 billion, a PE ratio of 30.28, a PEG ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $174.39 and its 200 day moving average is $173.23. General Electric has a 12 month low of $99.37 and a 12 month high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s payout ratio is presently 19.68%.

General Electric Company 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.