Wealth Alliance Sells 331 Shares of General Electric (NYSE:GE)

Wealth Alliance lessened its position in shares of General Electric (NYSE:GE) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,697 shares of the conglomerate’s stock after selling 331 shares during the period. Wealth Alliance’s holdings in General Electric were worth $344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its stake in shares of General Electric by 10.0% in the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after acquiring an additional 27,682 shares in the last quarter. Prudential PLC acquired a new position in shares of General Electric during the 1st quarter worth approximately $1,518,000. Sequoia Financial Advisors LLC increased its holdings in shares of General Electric by 2.9% during the first quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock worth $1,075,000 after purchasing an additional 334 shares during the period. Merit Financial Group LLC acquired a new stake in shares of General Electric in the first quarter valued at approximately $388,000. Finally, West Family Investments Inc. bought a new stake in shares of General Electric in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Jefferies Financial Group dropped their price target on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. The Goldman Sachs Group assumed coverage on shares of General Electric in a research note on Tuesday, April 9th. They set a “buy” rating and a $190.00 price objective on the stock. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

General Electric Stock Performance

NYSE:GE opened at $152.95 on Friday. The stock’s 50-day moving average is $159.15 and its 200-day moving average is $134.10. General Electric has a 1-year low of $76.87 and a 1-year high of $158.68. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a market cap of $167.22 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. Equities research analysts anticipate that General Electric will post 3.78 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.73%. General Electric’s payout ratio is presently 13.38%.

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.