General Electric (NYSE:GE) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its holdings in shares of General Electric (NYSE:GE) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,779 shares of the conglomerate’s stock after selling 417 shares during the period. Ritholtz Wealth Management’s holdings in General Electric were worth $3,466,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein increased their price target 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. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, 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 report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Down 0.3 %

Shares of GE opened at $179.75 on Friday. General Electric has a 52 week low of $100.95 and a 52 week high of $194.80. The firm has a market cap of $194.54 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The firm’s 50-day simple moving average is $174.36 and its 200 day simple moving average is $173.79. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, analysts forecast 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. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This 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. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.