Tennessee Valley Asset Management Partners Sells 63 Shares of General Electric (NYSE:GE)

Tennessee Valley Asset Management Partners trimmed its stake in General Electric (NYSE:GE) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,903 shares of the conglomerate’s stock after selling 63 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in General Electric were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Toth Financial Advisory Corp purchased a new stake in General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the third quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Electric in the 4th quarter worth approximately $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

NYSE GE opened at $196.81 on Monday. The business’s fifty day moving average is $175.33 and its 200 day moving average is $175.08. General Electric has a fifty-two week low of $103.75 and a fifty-two week high of $207.65. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $213.00 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Sell-side analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given 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 0.57%. General Electric’s payout ratio is 18.70%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.80.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.