Highland Capital Management LLC reduced its position in General Electric (NYSE:GE – Free Report) by 63.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,768 shares of the conglomerate’s stock after selling 11,675 shares during the quarter. Highland Capital Management LLC’s holdings in General Electric were worth $1,129,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GE. New England Research & Management Inc. lifted its stake in General Electric by 174.1% in the 4th quarter. New England Research & Management Inc. now owns 7,975 shares of the conglomerate’s stock worth $1,330,000 after purchasing an additional 5,065 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of General Electric by 32.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,267 shares of the conglomerate’s stock worth $1,379,000 after purchasing an additional 2,012 shares during the period. Hanson & Doremus Investment Management raised its position in shares of General Electric by 11.0% in the fourth quarter. Hanson & Doremus Investment Management now owns 3,781 shares of the conglomerate’s stock worth $631,000 after buying an additional 374 shares in the last quarter. Ibex Wealth Advisors bought a new stake in General Electric during the fourth quarter valued at $847,000. Finally, Swedbank AB grew its position in General Electric by 0.4% during the fourth quarter. Swedbank AB now owns 137,072 shares of the conglomerate’s stock worth $22,862,000 after buying an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.
General Electric Price Performance
GE stock opened at $205.89 on Friday. The stock has a market capitalization of $222.83 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. The firm’s 50-day moving average price is $176.42 and its two-hundred day moving average price is $175.79. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65.
General Electric (NYSE:GE – Get Free Report) last released 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%. As a group, equities analysts predict that General Electric will post 4.23 earnings per share for the current year.
General Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.54%. General Electric’s dividend payout ratio (DPR) is presently 18.70%.
Insider Transactions at General Electric
In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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.
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