General Electric (NYSE:GE) Shares Sold by Consolidated Capital Management LLC

Consolidated Capital Management LLC cut its holdings in shares of General Electric (NYSE:GE) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,049 shares of the conglomerate’s stock after selling 437 shares during the period. General Electric accounts for approximately 2.8% of Consolidated Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Consolidated Capital Management LLC’s holdings in General Electric were worth $6,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Seven Eight Capital LP bought a new stake in shares of General Electric during the 2nd quarter worth about $560,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of General Electric by 8.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock valued at $1,847,000 after acquiring an additional 936 shares during the period. Benjamin Edwards Inc. raised its holdings in General Electric by 6.8% during the second quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 87 shares in the last quarter. AE Wealth Management LLC lifted its position in General Electric by 78.6% in the second quarter. AE Wealth Management LLC now owns 31,287 shares of the conglomerate’s stock worth $4,974,000 after purchasing an additional 13,767 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in General Electric by 10.2% during the 2nd quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after purchasing an additional 10,609 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of GE opened at $182.83 on Monday. The business’s 50-day moving average is $174.33 and its 200-day moving average is $174.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $197.87 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

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

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GE. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Sanford C. Bernstein raised their target price 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, Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average 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.