Slocum Gordon & Co LLP Cuts Stake in General Electric (NYSE:GE)

Slocum Gordon & Co LLP lessened its stake in shares of General Electric (NYSE:GE) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,458 shares of the conglomerate’s stock after selling 62 shares during the quarter. General Electric makes up about 1.6% of Slocum Gordon & Co LLP’s portfolio, making the stock its 20th largest position. Slocum Gordon & Co LLP’s holdings in General Electric were worth $1,911,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fulton Bank N.A. lifted its position in shares of General Electric by 8.4% during the 3rd quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock valued at $350,000 after buying an additional 143 shares during the last quarter. Brookstone Capital Management raised its stake in General Electric by 13.5% in the 3rd quarter. Brookstone Capital Management now owns 18,927 shares of the conglomerate’s stock valued at $3,569,000 after acquiring an additional 2,258 shares during the period. Hoxton Planning & Management LLC purchased a new stake in General Electric during the third quarter valued at about $208,000. Strategic Wealth Partners Ltd. bought a new position in General Electric during the third quarter worth about $251,000. Finally, CWM LLC increased its stake in shares of General Electric by 17.4% in the third quarter. CWM LLC now owns 141,690 shares of the conglomerate’s stock worth $26,720,000 after purchasing an additional 21,019 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $206.00 on Friday. The company’s fifty day moving average price is $179.22 and its 200-day moving average price is $177.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $222.95 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.53 and a beta of 1.21. General Electric has a one year low of $110.34 and a one year high of $207.65.

General Electric (NYSE:GE) last released its 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 22.19% and a net margin of 14.31%. On average, equities research analysts anticipate that General Electric will post 5.39 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 dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. General Electric’s dividend payout ratio is 18.70%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several 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, January 27th. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three equities 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 has an average rating of “Moderate Buy” and an average price target of $208.73.

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.