General Electric (NYSE:GE) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. lowered its position in shares of General Electric (NYSE:GE) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,518 shares of the conglomerate’s stock after selling 713 shares during the quarter. Essex Financial Services Inc.’s holdings in General Electric were worth $2,108,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Cannell & Co. acquired a new position in shares of General Electric during the fourth quarter valued at approximately $19,973,000. Alpha Cubed Investments LLC grew its position in shares of General Electric by 4.0% in the fourth quarter. Alpha Cubed Investments LLC now owns 3,289 shares of the conglomerate’s stock valued at $420,000 after purchasing an additional 128 shares in the last quarter. MONECO Advisors LLC grew its position in shares of General Electric by 15.0% in the fourth quarter. MONECO Advisors LLC now owns 2,125 shares of the conglomerate’s stock valued at $271,000 after purchasing an additional 277 shares in the last quarter. Mission Wealth Management LP grew its position in shares of General Electric by 5.9% in the fourth quarter. Mission Wealth Management LP now owns 8,314 shares of the conglomerate’s stock valued at $1,061,000 after purchasing an additional 463 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Barclays lowered their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Vertical Research initiated coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $172.29.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was 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 in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 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 accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was 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 directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Down 1.3 %

Shares of NYSE GE opened at $159.70 on Thursday. The stock has a market cap of $174.81 billion, a P/E ratio of 52.36, a PEG ratio of 2.88 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26. The business’s fifty day simple moving average is $161.50 and its 200-day simple moving average is $137.33.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) 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 business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

General Electric Company 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.