Wealthcare Advisory Partners LLC Sells 171 Shares of General Electric (NYSE:GE)

Wealthcare Advisory Partners LLC lowered its holdings in shares of General Electric (NYSE:GE) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,282 shares of the conglomerate’s stock after selling 171 shares during the period. Wealthcare Advisory Partners LLC’s holdings in General Electric were worth $2,382,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp boosted its holdings in General Electric by 2.1% in the third 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 last quarter. Geode Capital Management LLC boosted its stake in shares of General Electric by 0.7% in 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 purchasing an additional 156,272 shares during the last quarter. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Legal & General Group Plc increased its position in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the period. Finally, Jennison Associates LLC raised its stake in General Electric by 91.8% during the third 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. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. 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 research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research boosted their target price on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Price Performance

GE stock opened at $182.83 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business has a 50-day simple moving average of $174.38 and a two-hundred day simple moving average of $173.83. The company has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80.

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

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend 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 Buying and Selling

In related news, 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.