Bartlett & CO. Wealth Management LLC Trims Stock Holdings in General Electric (NYSE:GE)

Bartlett & CO. Wealth Management LLC lessened its holdings in General Electric (NYSE:GE) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,987 shares of the conglomerate’s stock after selling 55 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in General Electric were worth $2,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC raised its stake in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares during the period. Jennison Associates LLC boosted its stake in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after acquiring an additional 413,388 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $200.66 on Friday. The company’s 50-day moving average price is $174.49 and its 200-day moving average price is $174.59. General Electric has a twelve month low of $101.16 and a twelve month high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $217.17 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

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

General Electric Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.56%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target 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. Finally, Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was 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.

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.