General Electric (NYSE:GE) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC cut its position in shares of General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,707 shares of the conglomerate’s stock after selling 1,962 shares during the period. General Electric accounts for 3.0% of CapWealth Advisors LLC’s portfolio, making the stock its 9th largest holding. CapWealth Advisors LLC’s holdings in General Electric were worth $27,305,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GE. Nations Financial Group Inc. IA ADV raised its position in shares of General Electric by 9.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,528 shares of the conglomerate’s stock valued at $422,000 after purchasing an additional 223 shares during the period. Spinnaker Trust lifted its position in General Electric by 0.8% during the fourth quarter. Spinnaker Trust now owns 8,267 shares of the conglomerate’s stock worth $1,379,000 after acquiring an additional 62 shares during the last quarter. WASHINGTON TRUST Co grew its position in shares of General Electric by 1.2% in the fourth quarter. WASHINGTON TRUST Co now owns 6,053 shares of the conglomerate’s stock valued at $1,010,000 after purchasing an additional 70 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in General Electric by 10.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 19,595 shares of the conglomerate’s stock worth $3,268,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Campbell Wealth Management bought a new stake in General Electric in the 4th quarter valued at $261,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the 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 trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on GE. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

Shares of GE stock opened at $208.62 on Friday. The stock has a market capitalization of $223.91 billion, a PE ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The business’s 50 day simple moving average is $182.00 and its 200 day simple moving average is $178.98. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $117.43 and a one year high of $211.42.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

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.