Certuity LLC Reduces Stake in General Electric (NYSE:GE)

Certuity LLC trimmed its stake in General Electric (NYSE:GE) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 304,780 shares of the conglomerate’s stock after selling 4,134 shares during the quarter. General Electric makes up 5.5% of Certuity LLC’s holdings, making the stock its 2nd largest holding. Certuity LLC’s holdings in General Electric were worth $50,834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Leavell Investment Management Inc. grew its stake in General Electric by 35.5% in the 4th quarter. Leavell Investment Management Inc. now owns 11,472 shares of the conglomerate’s stock valued at $1,917,000 after buying an additional 3,003 shares during the last quarter. Portfolio Design Labs LLC raised its holdings in General Electric by 30.7% in the 4th quarter. Portfolio Design Labs LLC now owns 24,465 shares of the conglomerate’s stock valued at $4,081,000 after acquiring an additional 5,747 shares in the last quarter. Fishman Jay A Ltd. MI lifted its position in shares of General Electric by 416.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 17,140 shares of the conglomerate’s stock worth $2,859,000 after acquiring an additional 13,820 shares during the period. Cardinal Strategic Wealth Guidance bought a new stake in shares of General Electric in the 4th quarter worth approximately $288,000. Finally, New Republic Capital LLC grew its holdings in shares of General Electric by 7.0% during the 4th quarter. New Republic Capital LLC now owns 1,876 shares of the conglomerate’s stock worth $313,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $209.03 on Wednesday. General Electric has a 52 week low of $110.95 and a 52 week high of $209.15. The company’s 50 day moving average price is $180.18 and its two-hundred day moving average price is $178.28. The stock has a market cap of $224.35 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.56 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a $0.28 dividend. 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 payout ratio is 18.70%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. 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. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus 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.