General Electric (NYSE:GE) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in shares of General Electric (NYSE:GE) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,144 shares of the conglomerate’s stock after selling 679 shares during the quarter. SVB Wealth LLC’s holdings in General Electric were worth $3,360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Halpern Financial Inc. boosted its position in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new stake in General Electric in the 4th quarter valued at approximately $27,000. Capital Analysts LLC grew its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares in the last quarter. Bfsg LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Barclays cut their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.93.

General Electric Stock Up 0.1 %

Shares of GE stock traded up $0.09 on Monday, hitting $169.90. 4,885,399 shares of the stock were exchanged, compared to its average volume of 7,149,787. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $184.22 billion, a P/E ratio of 55.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The business has a 50-day moving average of $162.35 and a 200 day moving average of $156.68. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. Equities analysts anticipate that General Electric will post 4.13 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. General Electric’s dividend payout ratio is currently 36.72%.

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.