Cullinan Associates Inc. Decreases Stake in General Electric (NYSE:GE)

Cullinan Associates Inc. decreased its position in General Electric (NYSE:GE) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,214 shares of the conglomerate’s stock after selling 2,251 shares during the quarter. Cullinan Associates Inc.’s holdings in General Electric were worth $1,036,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank increased its position in shares of General Electric by 5.9% during the third quarter. Czech National Bank now owns 220,885 shares of the conglomerate’s stock worth $41,654,000 after purchasing an additional 12,298 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of General Electric by 26.4% in the 3rd quarter. GAMMA Investing LLC now owns 21,489 shares of the conglomerate’s stock valued at $4,052,000 after acquiring an additional 4,490 shares during the period. Herbst Group LLC purchased a new stake in General Electric in the 3rd quarter valued at $2,427,000. Diversified Trust Co boosted its stake in General Electric by 1.0% during the 3rd quarter. Diversified Trust Co now owns 20,960 shares of the conglomerate’s stock worth $3,953,000 after purchasing an additional 199 shares during the period. Finally, Everpar Advisors LLC purchased a new position in General Electric during the 3rd quarter worth $214,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased 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, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 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 corporate insiders.

General Electric Stock Up 0.2 %

GE opened at $204.03 on Tuesday. The stock has a market cap of $220.81 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 12 month low of $108.60 and a 12 month high of $207.65. The stock’s 50 day moving average price is $177.41 and its 200 day moving average price is $176.54.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts predict that General Electric will post 5.39 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. Investors of record on Friday, December 27th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is presently 18.70%.

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.