SFE Investment Counsel Has $2.21 Million Holdings in General Electric (NYSE:GE)

SFE Investment Counsel cut its position in General Electric (NYSE:GE) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,279 shares of the conglomerate’s stock after selling 587 shares during the quarter. SFE Investment Counsel’s holdings in General Electric were worth $2,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in General Electric by 22.8% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 14,534 shares of the conglomerate’s stock valued at $1,816,000 after purchasing an additional 2,697 shares during the period. Federated Hermes Inc. lifted its holdings in shares of General Electric by 968.2% during the 4th quarter. Federated Hermes Inc. now owns 528,705 shares of the conglomerate’s stock worth $67,479,000 after acquiring an additional 479,209 shares during the period. Waterfront Wealth Inc. bought a new position in General Electric during the 4th quarter valued at about $237,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in General Electric by 52.5% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,105 shares of the conglomerate’s stock valued at $269,000 after purchasing an additional 725 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in General Electric by 7.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 98,149 shares of the conglomerate’s stock valued at $12,527,000 after purchasing an additional 6,527 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of General Electric stock traded down $1.98 during trading on Thursday, hitting $153.69. 3,900,453 shares of the stock were exchanged, compared to its average volume of 7,950,624. General Electric has a 1-year low of $76.87 and a 1-year high of $158.68. The stock has a market capitalization of $168.02 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.07 and a beta of 1.29. The company has a fifty day moving average price of $158.87 and a 200-day moving average price of $133.96. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. As a group, equities analysts predict that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. 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 dividend payout ratio is currently 13.38%.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several analyst reports. Barclays cut their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company cut their price target on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

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.