Tandem Capital Management Corp ADV Reduces Position in General Electric (NYSE:GE)

Tandem Capital Management Corp ADV reduced its position in shares of General Electric (NYSE:GE) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,823 shares of the conglomerate’s stock after selling 704 shares during the quarter. General Electric comprises 3.6% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 3rd largest holding. Tandem Capital Management Corp ADV’s holdings in General Electric were worth $6,642,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GE. Catalyst Capital Advisors LLC lifted its stake in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $733,000. State Street Corp boosted its stake in shares of 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. Soltis Investment Advisors LLC grew its holdings in shares of General Electric by 269.8% in the 3rd 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 during the last quarter. Finally, World Investment Advisors LLC raised its position in shares of General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In related 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. 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 that occurred 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GE. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Trading Up 0.2 %

Shares of NYSE:GE opened at $204.03 on Tuesday. General Electric has a 1 year low of $108.60 and a 1 year high of $207.65. The firm has a fifty day moving average price of $177.41 and a 200 day moving average price of $176.54. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $220.81 billion, a PE ratio of 34.06, a P/E/G ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. General Electric’s payout ratio is presently 18.70%.

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.