Douglas Lane & Associates LLC Trims Stock Holdings in General Electric (NYSE:GE)

Douglas Lane & Associates LLC lowered its holdings in General Electric (NYSE:GE) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 593,133 shares of the conglomerate’s stock after selling 28,471 shares during the period. General Electric makes up about 1.4% of Douglas Lane & Associates LLC’s holdings, making the stock its 15th biggest position. Douglas Lane & Associates LLC owned about 0.05% of General Electric worth $98,929,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Lantz Financial LLC lifted its holdings in shares of General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after buying an additional 70 shares in the last quarter. Norden Group LLC raised its holdings in shares of General Electric by 19.7% in the 2nd quarter. Norden Group LLC now owns 1,594 shares of the conglomerate’s stock valued at $253,000 after acquiring an additional 262 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of General Electric during the 2nd quarter valued at about $188,000. Asset Dedication LLC grew its holdings in shares of General Electric by 16.4% during the second quarter. Asset Dedication LLC now owns 953 shares of the conglomerate’s stock worth $151,000 after purchasing an additional 134 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of General Electric by 28,412.5% in the second quarter. Quest Partners LLC now owns 2,281 shares of the conglomerate’s stock worth $363,000 after purchasing an additional 2,273 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Up 0.5 %

Shares of NYSE:GE traded up $0.89 during trading on Wednesday, reaching $173.20. 1,953,948 shares of the stock traded hands, compared to its average volume of 4,274,785. General Electric has a 52-week low of $100.95 and a 52-week high of $194.80. The stock has a 50-day moving average of $174.36 and a two-hundred day moving average of $173.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $187.45 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Northcoast Research started coverage on General Electric in a report on Tuesday. They issued a “neutral” rating for the company. Finally, Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on 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 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 disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.