Bard Financial Services Inc. Sells 135 Shares of General Electric (NYSE:GE)

Bard Financial Services Inc. decreased its holdings in General Electric (NYSE:GE) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,660 shares of the conglomerate’s stock after selling 135 shares during the period. Bard Financial Services Inc.’s holdings in General Electric were worth $2,445,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the 3rd quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $28,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GE. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE traded up $0.88 during trading on Monday, reaching $172.84. 2,408,503 shares of the company traded hands, compared to its average volume of 3,466,353. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $174.45 and a 200-day simple moving average of $173.17. General Electric has a 52-week low of $99.37 and a 52-week high of $194.80. The stock has a market capitalization of $187.06 billion, a PE ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities research analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s payout ratio is 19.68%.

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.