Gateway Investment Advisers LLC Sells 38,136 Shares of General Electric (NYSE:GE)

Gateway Investment Advisers LLC lowered its stake in General Electric (NYSE:GE) by 17.6% during the fourth quarter, Holdings Channel reports. The firm owned 178,139 shares of the conglomerate’s stock after selling 38,136 shares during the period. Gateway Investment Advisers LLC’s holdings in General Electric were worth $29,712,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts recently weighed in on GE shares. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price 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. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, 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 note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Price Performance

Shares of GE opened at $179.75 on Friday. The business has a 50-day moving average of $174.36 and a 200-day moving average of $173.79. 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 company has a market capitalization of $194.54 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80.

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

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction 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 of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of 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 trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.