Hartford Investment Management Co. Lowers Stock Position in General Electric (NYSE:GE)

Hartford Investment Management Co. cut its holdings in shares of General Electric (NYSE:GE) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,945 shares of the conglomerate’s stock after selling 1,296 shares during the period. Hartford Investment Management Co.’s holdings in General Electric were worth $11,166,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GE. Catalyst Capital Advisors LLC raised its position in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new position in General Electric in the fourth quarter valued at about $733,000. State Street Corp raised its holdings in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC boosted its holdings in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GE. Citigroup boosted their price objective 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. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Up 1.9 %

General Electric stock opened at $209.03 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $110.95 and a 52 week high of $209.15. The business’s 50-day moving average price is $180.18 and its 200 day moving average price is $178.28. The firm has a market cap of $224.35 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.54%. General Electric’s dividend payout ratio is currently 18.70%.

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.