Triangle Securities Wealth Management Trims Holdings in General Electric (NYSE:GE)

Triangle Securities Wealth Management cut its position in shares of General Electric (NYSE:GE) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,609 shares of the conglomerate’s stock after selling 85 shares during the quarter. Triangle Securities Wealth Management’s holdings in General Electric were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the third quarter valued at $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric during the third quarter worth about $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $182.83 on Monday. 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 firm’s fifty day moving average price is $174.33 and its 200 day moving average price is $174.08. The company has a market capitalization of $197.87 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. General Electric has a 12-month low of $101.16 and a 12-month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’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 transaction of $1,267,910.00. Following the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $201.47.

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.