Silverlake Wealth Management LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Silverlake Wealth Management LLC lowered its stake in shares of General Electric (NYSE:GE) by 10.8% during the 4th quarter, HoldingsChannel reports. The fund owned 3,628 shares of the conglomerate’s stock after selling 438 shares during the period. Silverlake Wealth Management LLC’s holdings in General Electric were worth $605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the third quarter worth about $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the third quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Electric in the fourth quarter worth about $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.9 %

GE stock opened at $202.19 on Wednesday. The firm has a market cap of $218.83 billion, a PE ratio of 33.75, a P/E/G ratio of 2.53 and a beta of 1.21. 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 firm’s fifty day moving average is $177.89 and its 200 day moving average is $176.86. General Electric has a one year low of $108.60 and a one year high of $207.65.

General Electric (NYSE:GE) last released its quarterly earnings results 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 net margin of 14.31% and a return on equity of 22.19%. On average, research 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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s payout ratio is 18.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company lifted 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

General Electric 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.