Altfest L J & Co. Inc. Sells 632 Shares of General Electric (NYSE:GE)

Altfest L J & Co. Inc. trimmed its holdings in shares of General Electric (NYSE:GE) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041 shares of the conglomerate’s stock after selling 632 shares during the quarter. Altfest L J & Co. Inc.’s holdings in General Electric were worth $516,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its position in shares of General Electric by 3.5% in the 2nd quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock worth $5,515,327,000 after purchasing an additional 1,717,793 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after purchasing an additional 13,427,079 shares during the period. Northern Trust Corp grew its stake in General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after purchasing an additional 410,061 shares during the period. Morgan Stanley lifted its stake in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after buying an additional 434,736 shares during the period. Finally, Norges Bank acquired a new stake in shares of General Electric during the 4th quarter worth approximately $635,274,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GE. Citigroup lifted their price target on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Barclays boosted their price target on shares of General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Jefferies Financial Group boosted their target price on shares of General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Finally, TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $150.54.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Trading Down 2.8 %

GE traded down $5.12 during trading on Thursday, hitting $175.00. 5,588,283 shares of the stock traded hands, compared to its average volume of 6,005,644. The firm has a 50-day moving average of $150.52 and a 200 day moving average of $129.01. General Electric has a 12-month low of $93.47 and a 12-month high of $180.36. The firm has a market capitalization of $191.32 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. General Electric’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. Equities research analysts anticipate that General Electric will post 4.57 EPS for the current year.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.