General Electric (NYSE:GE) Shares Sold by Parthenon LLC

Parthenon LLC reduced its holdings in General Electric (NYSE:GE) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,873 shares of the conglomerate’s stock after selling 128 shares during the quarter. Parthenon LLC’s holdings in General Electric were worth $3,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GE. Halpern Financial Inc. increased its stake in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in General Electric during the fourth quarter worth about $27,000. CGC Financial Services LLC increased its stake in General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the last quarter. Capital Analysts LLC increased its stake in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in General Electric during the fourth quarter worth about $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred 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 approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of General Electric 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 transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Barclays lowered their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Jefferies Financial Group increased their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Bank of America increased their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

General Electric Stock Performance

Shares of NYSE GE traded down $2.74 during mid-day trading on Tuesday, hitting $161.75. The company had a trading volume of 6,722,311 shares, compared to its average volume of 8,063,052. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.90 and a beta of 1.29. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm’s 50 day simple moving average is $161.29 and its two-hundred day simple moving average is $137.17.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 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 firm 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 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, April 12th. 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.