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

Wealth Alliance lowered its stake in General Electric (NYSE:GE) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GE. Halpern Financial Inc. boosted its position in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the period. CGC Financial Services LLC boosted its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC boosted its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Global Wealth Management Investment Advisory Inc. grew its stake in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares during the last quarter. Finally, Financial Freedom LLC bought a new position in General Electric in the 4th quarter worth $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 1.7 %

Shares of GE opened at $152.95 on Friday. 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 PE ratio of 18.27, a PEG ratio of 3.05 and a beta of 1.29. General Electric has a 1 year low of $76.87 and a 1 year high of $158.68. The stock has a 50 day simple moving average of $159.15 and a 200-day simple moving average of $134.10.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. During the same period in the prior year, the business posted $1.24 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. General Electric’s payout ratio is 13.38%.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on 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 sale, 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 SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the company’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 transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several research analyst reports. Royal Bank of Canada lowered their price target on General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Bank of America lowered their target price on General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Wells Fargo & Company cut their price target on General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of General Electric in a research report on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.07.

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.