General Electric (NYSE:GE) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management cut its stake in shares of General Electric (NYSE:GE) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,609 shares of the conglomerate’s stock after selling 85 shares during the period. Triangle Securities Wealth Management’s holdings in General Electric were worth $435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tsfg LLC boosted its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the period. Saxon Interests Inc. boosted its stake in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares during the period. Strategic Advisors LLC grew its holdings 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 valued at $428,000 after purchasing an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after buying an additional 60 shares during the period. Finally, Meridian Management Co. lifted its holdings in General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after buying an additional 61 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE opened at $182.83 on Monday. The company’s 50 day simple moving average is $174.33 and its 200-day simple moving average is $174.08. General Electric has a 12-month low of $101.16 and a 12-month high of $194.80. The firm has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein boosted their price target 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. Finally, Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

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.