Cigna Investments Inc. New Sells 185 Shares of General Electric (NYSE:GE)

Cigna Investments Inc. New trimmed its stake in shares of General Electric (NYSE:GE) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,051 shares of the conglomerate’s stock after selling 185 shares during the quarter. Cigna Investments Inc. New’s holdings in General Electric were worth $1,844,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at about $27,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the fourth quarter valued at about $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $28,000. 74.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 owns 148,857 shares in the company, valued at $26,539,714.53. The trade was 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 link. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $205.33 on Tuesday. General Electric has a one year low of $110.95 and a one year high of $207.84. The business has a fifty day moving average price of $179.68 and a 200-day moving average price of $178.00. 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 $220.38 billion, a P/E ratio of 34.28, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GE. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.