General Electric (NYSE:GE) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lowered its stake in General Electric (NYSE:GE) by 35.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,962 shares of the conglomerate’s stock after selling 1,068 shares during the period. SteelPeak Wealth LLC’s holdings in General Electric were worth $328,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GE. Catalyst Capital Advisors LLC increased its position in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the period. Johnson & White Wealth Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $733,000. State Street Corp grew its holdings in General Electric by 2.1% during the third 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 during the period. Soltis Investment Advisors LLC raised its position in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC lifted its holdings in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 owns 13,289 shares in the company, 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. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

Shares of GE opened at $205.89 on Friday. General Electric has a 1 year low of $105.70 and a 1 year high of $207.65. The company’s 50 day simple moving average is $176.42 and its 200 day simple moving average is $175.79. The company has a market capitalization of $222.83 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. On average, sell-side analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. General Electric’s payout ratio is currently 18.70%.

About General Electric

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.