General Electric (NYSE:GE) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC decreased its stake in General Electric (NYSE:GE) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,319 shares of the conglomerate’s stock after selling 186 shares during the period. WealthPLAN Partners LLC’s holdings in General Electric were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth about $27,000. Hager Investment Management Services LLC acquired a new position in General Electric during the fourth quarter worth about $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth about $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GE shares. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective 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. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $208.62 on Friday. General Electric has a 52-week low of $117.43 and a 52-week high of $211.42. The firm has a fifty day moving average of $182.66 and a 200-day moving average of $179.25. The firm has a market capitalization of $223.91 billion, a P/E ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

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.