Stonegate Investment Group LLC Sells 264 Shares of General Electric (NYSE:GE)

Stonegate Investment Group LLC lowered its position in shares of General Electric (NYSE:GE) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,026 shares of the conglomerate’s stock after selling 264 shares during the quarter. Stonegate Investment Group LLC’s holdings in General Electric were worth $5,175,000 as of its most recent SEC filing.

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

General Electric Trading Down 1.2 %

Shares of General Electric stock opened at $194.30 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $175.33 and a 200 day simple moving average of $175.15. General Electric has a 12-month low of $103.75 and a 12-month high of $207.65. The company has a market capitalization of $210.29 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, sell-side analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GE shares. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.