General Electric (NYSE:GE) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in General Electric (NYSE:GE) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 344,986 shares of the conglomerate’s stock after selling 29,880 shares during the quarter. Mackenzie Financial Corp’s holdings in General Electric were worth $44,031,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sei Investments Co. increased its stake in General Electric by 10.0% during the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock worth $27,925,000 after buying an additional 27,682 shares in the last quarter. Prudential PLC purchased a new stake in General Electric during the 1st quarter worth approximately $1,518,000. Sequoia Financial Advisors LLC increased its stake in General Electric by 2.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock worth $1,075,000 after buying an additional 334 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of General Electric in the first quarter valued at approximately $388,000. Finally, West Family Investments Inc. acquired a new stake in shares of General Electric in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Jefferies Financial Group lowered their price target on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group began coverage on General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 price target for the company. Finally, StockNews.com began coverage on General Electric in a report on Saturday. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Price Performance

General Electric stock opened at $156.76 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $158.53 and a 200-day simple moving average of $133.81. The stock has a market cap of $171.38 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.29. General Electric has a 12-month low of $76.38 and a 12-month high of $158.68.

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, topping analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the previous year, the business earned $1.24 EPS. General Electric’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts expect that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 13.38%.

Insider Activity

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

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.