Wealth Alliance Sells 239 Shares of General Electric (NYSE:GE)

Wealth Alliance lessened its holdings in General Electric (NYSE:GEFree Report) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,028 shares of the conglomerate’s stock after selling 239 shares during the period. Wealth Alliance’s holdings in General Electric were worth $335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in 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 during the last quarter. Prudential PLC purchased a new stake in General Electric in the 1st quarter valued at $1,518,000. Sequoia Financial Advisors LLC grew its stake in General Electric by 2.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after purchasing an additional 334 shares during the period. Merit Financial Group LLC bought a new position in General Electric in the 1st quarter valued at $388,000. Finally, West Family Investments Inc. bought a new position in shares of General Electric during the 1st quarter worth $230,000. 74.83% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE GE opened at $139.28 on Monday. The firm has a market cap of $151.58 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.14 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $128.13 and a 200-day moving average price of $118.43. General Electric has a twelve month low of $80.40 and a twelve month high of $139.48.

General Electric (NYSE:GEGet Free Report) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities research analysts predict that General Electric will post 4.52 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Thursday, December 28th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $0.32 annualized dividend and a yield of 0.23%. General Electric’s dividend payout ratio (DPR) is currently 3.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com raised General Electric from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company lifted their price target on General Electric from $144.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada lowered their price objective on General Electric from $150.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup lifted their price objective on General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

Check Out Our Latest Stock Analysis on GE

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was 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 in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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