Confluence Wealth Services Inc. Trims Holdings in General Electric (NYSE:GE)

Confluence Wealth Services Inc. lowered its position in shares of General Electric (NYSE:GE) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,419 shares of the conglomerate’s stock after selling 142 shares during the quarter. Confluence Wealth Services Inc.’s holdings in General Electric were worth $1,404,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric in the 3rd quarter worth approximately $30,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Down 0.9 %

GE opened at $202.19 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock’s 50 day moving average price is $178.24 and its 200-day moving average price is $177.16. General Electric has a one year low of $108.60 and a one year high of $207.65. The stock has a market cap of $218.83 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, equities analysts forecast that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.55%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s 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 transaction, the senior vice president now 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 filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.