General Electric (NYSE:GE) Shares Sold by Stonehearth Capital Management LLC

Stonehearth Capital Management LLC cut its holdings in shares of General Electric (NYSE:GE) by 1.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,404 shares of the conglomerate’s stock after selling 124 shares during the period. General Electric accounts for 0.4% of Stonehearth Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Stonehearth Capital Management LLC’s holdings in General Electric were worth $1,068,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GE. State Street Corp grew its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Newport Trust Company LLC acquired a new stake in General Electric in the second quarter valued at $2,613,332,000. Legal & General Group Plc lifted its holdings in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Northcoast Research assumed coverage on General Electric in a report on Tuesday. They issued a “neutral” rating for the company. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research increased 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 boosted their price target on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE traded up $0.86 on Tuesday, reaching $173.31. 2,031,772 shares of the company were exchanged, compared to its average volume of 3,748,847. The company has a 50-day moving average of $174.39 and a 200-day moving average of $173.23. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $187.57 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $99.37 and a 1-year high of $194.80.

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

General Electric Dividend Announcement

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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.