Flagship Harbor Advisors LLC Decreases Stock Position in General Electric (NYSE:GE)

Flagship Harbor Advisors LLC lowered its stake in shares of General Electric (NYSE:GE) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,553 shares of the conglomerate’s stock after selling 161 shares during the period. Flagship Harbor Advisors LLC’s holdings in General Electric were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the fourth quarter worth $29,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $196.81 on Monday. The firm has a market capitalization of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business has a 50 day simple moving average of $175.33 and a 200-day simple moving average of $175.08. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 trade represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.