Ingalls & Snyder LLC Has $1.21 Million Position in General Electric (NYSE:GE)

Ingalls & Snyder LLC cut its position in shares of General Electric (NYSE:GE) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,244 shares of the conglomerate’s stock after selling 300 shares during the period. Ingalls & Snyder LLC’s holdings in General Electric were worth $1,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. Hager Investment Management Services LLC bought a new stake in General Electric in the 4th quarter valued at $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter valued at $28,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Price Performance

Shares of NYSE:GE opened at $208.35 on Friday. General Electric has a one year low of $113.88 and a one year high of $211.42. 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 company has a market cap of $223.62 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.56 and a beta of 1.22. The firm has a 50 day simple moving average of $181.29 and a 200 day simple moving average of $178.78.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Research analysts predict that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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 $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. General Electric’s dividend payout ratio is 18.70%.

General Electric Company 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.