General Electric (NYSE:GE) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its position in shares of General Electric (NYSE:GE) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the conglomerate’s stock after selling 75 shares during the period. Carret Asset Management LLC’s holdings in General Electric were worth $564,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wynn Capital LLC bought a new stake in General Electric in the fourth quarter worth about $1,244,000. Bfsg LLC acquired a new stake in shares of General Electric during the fourth quarter worth $32,000. First National Bank Sioux Falls acquired a new position in shares of General Electric in the 4th quarter valued at $206,000. GAMMA Investing LLC acquired a new position in shares of General Electric in the fourth quarter worth about $1,583,000. Finally, Parkside Financial Bank & Trust boosted its stake in General Electric by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 6,254 shares of the conglomerate’s stock worth $798,000 after purchasing an additional 196 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

NYSE:GE traded up $0.72 on Thursday, hitting $159.91. The company had a trading volume of 2,369,299 shares, compared to its average volume of 8,094,205. The firm has a 50 day moving average of $160.20 and a two-hundred day moving average of $135.55. The stock has a market capitalization of $174.82 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 3.05 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GE shares. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and lifted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Argus lifted their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Vertical Research started coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.29.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s 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 transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated 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 completion of the sale, the senior vice president now 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 available at this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is 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.