Sharp Financial Services LLC Trims Holdings in General Electric (NYSE:GE)

Sharp Financial Services LLC trimmed its position in General Electric (NYSE:GE) by 5.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,408 shares of the conglomerate’s stock after selling 75 shares during the quarter. Sharp Financial Services LLC’s holdings in General Electric were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of GE. Tsfg LLC grew its holdings in General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares during the period. Saxon Interests Inc. grew its holdings in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares during the period. Strategic Advisors LLC grew its holdings in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares during the period. Finally, Chesley Taft & Associates LLC grew its holdings in General Electric by 0.5% during the fourth quarter. Chesley Taft & Associates LLC now owns 12,645 shares of the conglomerate’s stock worth $2,109,000 after acquiring an additional 60 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $188.20 on Thursday. General Electric has a one year low of $101.16 and a one year high of $194.80. The company has a market cap of $203.69 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average price is $174.39 and its 200 day moving average price is $174.49.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the business posted $0.82 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

About General Electric

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.