Pacer Advisors Inc. Sells 11,371 Shares of General Electric (NYSE:GE)

Pacer Advisors Inc. lowered its stake in General Electric (NYSE:GE) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,343 shares of the conglomerate’s stock after selling 11,371 shares during the quarter. Pacer Advisors Inc.’s holdings in General Electric were worth $15,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV grew its position in shares of General Electric by 32.3% in the 4th quarter. KBC Group NV now owns 223,208 shares of the conglomerate’s stock valued at $37,228,000 after acquiring an additional 54,473 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in General Electric in the 4th quarter valued at about $2,828,000. Apexium Financial LP grew its holdings in General Electric by 16.9% during the fourth quarter. Apexium Financial LP now owns 1,311 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 190 shares during the period. Blue Trust Inc. increased its position in General Electric by 35.8% during the fourth quarter. Blue Trust Inc. now owns 18,523 shares of the conglomerate’s stock worth $3,089,000 after buying an additional 4,880 shares during the last quarter. Finally, PFG Investments LLC raised its stake in General Electric by 4.8% in the fourth quarter. PFG Investments LLC now owns 27,321 shares of the conglomerate’s stock valued at $4,557,000 after buying an additional 1,248 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

Shares of NYSE:GE opened at $194.46 on Wednesday. The company’s 50 day simple moving average is $175.67 and its 200 day simple moving average is $175.38. The stock has a market capitalization of $210.46 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, research analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s payout ratio is 19.68%.

About General Electric

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.