Westmount Partners LLC Has $544,000 Position in General Electric (NYSE:GE)

Westmount Partners LLC lessened its stake in General Electric (NYSE:GE) by 24.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,261 shares of the conglomerate’s stock after selling 1,064 shares during the quarter. Westmount Partners LLC’s holdings in General Electric were worth $544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Oppenheimer & Co. Inc. boosted its holdings in shares of General Electric by 34.4% in the second quarter. Oppenheimer & Co. Inc. now owns 38,068 shares of the conglomerate’s stock valued at $6,052,000 after buying an additional 9,745 shares during the period. GHP Investment Advisors Inc. raised its position in shares of General Electric by 14.9% in the second quarter. GHP Investment Advisors Inc. now owns 1,167 shares of the conglomerate’s stock valued at $186,000 after purchasing an additional 151 shares during the period. Thoroughbred Financial Services LLC bought a new position in General Electric during the second quarter worth about $907,000. Wealthspire Advisors LLC increased its position in General Electric by 19.6% during the second quarter. Wealthspire Advisors LLC now owns 18,563 shares of the conglomerate’s stock worth $2,951,000 after acquiring an additional 3,042 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in General Electric during the second quarter worth about $556,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.4 %

Shares of NYSE:GE traded down $0.69 during mid-day trading on Monday, hitting $171.00. The company had a trading volume of 2,531,799 shares, compared to its average volume of 4,525,016. The firm has a fifty day moving average price of $174.34 and a 200 day moving average price of $173.54. The company has a market capitalization of $185.07 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.63 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. General Electric has a one year low of $100.95 and a one year high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reduced their price target 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. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Activity at General Electric

In related news, 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 value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.