Money Concepts Capital Corp Cuts Stock Position in General Electric (NYSE:GE)

Money Concepts Capital Corp decreased its stake in shares of General Electric (NYSE:GE) by 26.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,731 shares of the conglomerate’s stock after selling 1,675 shares during the quarter. Money Concepts Capital Corp’s holdings in General Electric were worth $789,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Tsfg LLC raised its position in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC increased its stake in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. increased its stake in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares in the last quarter. Strategic Advisors LLC lifted its stake in shares of General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares in the last quarter. Finally, Old North State Wealth Management LLC grew its holdings in shares of General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Stock Up 1.1 %

Shares of GE stock opened at $204.44 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $109.26 and a 12 month high of $207.65. The stock has a market cap of $221.26 billion, a P/E ratio of 34.13, a P/E/G ratio of 2.53 and a beta of 1.21. The company has a 50 day simple moving average of $178.24 and a two-hundred day simple moving average of $177.16.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate 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, research analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. General Electric’s payout ratio is currently 18.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein boosted 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. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.73.

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.