Ingalls & Snyder LLC Has $1.21 Million Stock Position in General Electric (NYSE:GE)

Ingalls & Snyder LLC decreased its stake in shares of General Electric (NYSE:GE) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,244 shares of the conglomerate’s stock after selling 300 shares during the quarter. Ingalls & Snyder LLC’s holdings in General Electric were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

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

General Electric Price Performance

GE opened at $208.35 on Friday. The firm has a 50-day moving average price of $181.29 and a 200-day moving average price of $178.78. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $113.88 and a twelve month high of $211.42. The company has a market capitalization of $223.62 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last issued its 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 22.19% and a net margin of 14.31%. Equities analysts expect that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is 18.70%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was 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 company insiders.

Analyst Ratings Changes

GE has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.