General Electric (NYSE:GE) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lowered its position in shares of General Electric (NYSE:GE) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,940 shares of the conglomerate’s stock after selling 452 shares during the quarter. John G Ullman & Associates Inc.’s holdings in General Electric were worth $3,311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. State Street Corp lifted its holdings in shares of General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after buying an additional 7,157,356 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares during the period. Northern Trust Corp raised its holdings in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after purchasing an additional 410,061 shares during the period. Morgan Stanley raised its holdings in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after purchasing an additional 434,736 shares during the period. Finally, Norges Bank acquired a new position in General Electric in the 4th quarter worth about $635,274,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. StockNews.com began coverage on General Electric in a report on Saturday, April 13th. They issued a “hold” rating for the company. Royal Bank of Canada reduced their price target on General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $160.07.

General Electric Price Performance

Shares of GE stock traded down $4.88 during trading hours on Friday, reaching $148.06. The company had a trading volume of 9,475,577 shares, compared to its average volume of 7,983,830. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a fifty day moving average of $159.15 and a 200-day moving average of $134.10. The company has a market capitalization of $161.87 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 3.05 and a beta of 1.29. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. On average, equities analysts anticipate that General Electric will post 3.78 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. General Electric’s dividend payout ratio is currently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.