Platform Technology Partners Sells 4,528 Shares of General Electric (NYSE:GE)

Platform Technology Partners cut its stake in General Electric (NYSE:GE) by 29.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,057 shares of the conglomerate’s stock after selling 4,528 shares during the period. Platform Technology Partners’ holdings in General Electric were worth $1,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GE. Jennison Associates LLC boosted its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. International Assets Investment Management LLC lifted its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares during the period. Franklin Resources Inc. grew its stake in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the last quarter. Finally, State Street Corp grew its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GE. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Finally, UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.73.

General Electric Trading Down 0.4 %

GE opened at $205.32 on Friday. General Electric has a 12 month low of $110.57 and a 12 month high of $207.84. The stock has a fifty day moving average price of $179.22 and a 200-day moving average price of $177.55. The firm has a market cap of $220.37 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.53 and a beta of 1.22. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. 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.