Summit Trail Advisors LLC Sells 1,004 Shares of General Electric (NYSE:GE)

Summit Trail Advisors LLC reduced its stake in General Electric (NYSE:GE) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,324 shares of the conglomerate’s stock after selling 1,004 shares during the quarter. Summit Trail Advisors LLC’s holdings in General Electric were worth $935,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Halpern Financial Inc. raised its holdings in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of General Electric during the 4th quarter worth about $27,000. CGC Financial Services LLC grew its holdings in General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC raised its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric in the fourth quarter worth about $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE traded up $3.83 during midday trading on Monday, reaching $167.94. 4,830,418 shares of the company’s stock traded hands, compared to its average volume of 7,903,994. The company has a market cap of $183.83 billion, a P/E ratio of 54.84, a PEG ratio of 2.92 and a beta of 1.25. The company has a fifty day simple moving average of $161.93 and a two-hundred day simple moving average of $138.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 1 year low of $78.17 and a 1 year high of $167.98.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities analysts predict that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. General Electric’s dividend payout ratio is 36.72%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Vertical Research assumed coverage on General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group lifted their price objective on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

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.