Genesee Capital Advisors LLC Trims Stake in General Electric (NYSE:GE)

Genesee Capital Advisors LLC trimmed its position in shares of General Electric (NYSE:GE) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,811 shares of the conglomerate’s stock after selling 131 shares during the period. Genesee Capital Advisors LLC’s holdings in General Electric were worth $802,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the 3rd quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the third quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GE. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Down 0.0 %

Shares of GE stock opened at $194.46 on Wednesday. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65. The firm has a market capitalization of $210.46 billion, a P/E ratio of 34.18, a PEG ratio of 1.53 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $175.67 and its two-hundred day moving average price is $175.38.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. On average, equities analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s payout ratio is 19.68%.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.