Aaron Wealth Advisors LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Aaron Wealth Advisors LLC reduced its stake in General Electric (NYSE:GE) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,243 shares of the conglomerate’s stock after selling 530 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in General Electric were worth $874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. bought a new stake in General Electric in the 3rd quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in General Electric in the 3rd quarter valued at about $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of NYSE GE opened at $182.83 on Friday. 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 has a fifty-two week low of $101.16 and a fifty-two week high of $194.80. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The stock has a fifty day moving average of $174.33 and a 200-day moving average of $174.00.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business 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 firm earned $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GE. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was 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.

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.