Mirabella Financial Services LLP Sells 30,661 Shares of General Electric (NYSE:GE)

Mirabella Financial Services LLP decreased its position in shares of General Electric (NYSE:GE) by 72.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,585 shares of the conglomerate’s stock after selling 30,661 shares during the period. Mirabella Financial Services LLP’s holdings in General Electric were worth $1,108,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GE. Prostatis Group LLC bought a new position in General Electric in the 4th quarter worth $29,000. Silicon Valley Capital Partners bought a new stake in General Electric during the 4th quarter valued at approximately $31,000. Global Wealth Management Investment Advisory Inc. raised its stake in General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the period. Syverson Strege & Co raised its stake in General Electric by 53.6% during the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 118 shares during the period. Finally, Financial Freedom LLC bought a new stake in General Electric during the 4th quarter valued at approximately $32,000. Institutional investors own 74.83% of the company’s stock.

General Electric Stock Down 0.2 %

Shares of NYSE:GE traded down $0.22 during trading hours on Monday, hitting $114.24. The company’s stock had a trading volume of 3,539,600 shares, compared to its average volume of 6,257,915. General Electric has a 52 week low of $48.06 and a 52 week high of $117.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. The company has a market capitalization of $124.34 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 6.99 and a beta of 1.28. The firm’s fifty day moving average price is $111.74 and its 200 day moving average price is $101.92.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.22. The business had revenue of $15.85 billion for the quarter, compared to analysts’ expectations of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, research analysts expect that General Electric will post 2.33 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th were paid a $0.08 dividend. The ex-dividend date was Monday, July 10th. This represents a $0.32 annualized dividend and a yield of 0.28%. General Electric’s dividend payout ratio (DPR) is 3.80%.

Insider Buying and Selling at General Electric

In other General Electric news, major shareholder General Electric Pension Trust bought 35,160 shares of General Electric stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average cost of $995.44 per share, with a total value of $34,999,670.40. Following the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder General Electric Pension Trust bought 35,160 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of General Electric stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the completion of the sale, the senior vice president now owns 57,923 shares of the company’s stock, valued at $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Barclays lifted their target price on General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. The Goldman Sachs Group lifted their target price on General Electric from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Wolfe Research lifted their target price on General Electric from $107.00 to $125.00 in a report on Wednesday, June 28th. Finally, Morgan Stanley increased their target price on General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.00.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.