Cambridge Financial Group Inc. Cuts Stock Holdings in General Electric (NYSE:GE)

Cambridge Financial Group Inc. reduced its stake in General Electric (NYSE:GE) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,565 shares of the conglomerate’s stock after selling 3,290 shares during the quarter. General Electric accounts for approximately 3.4% of Cambridge Financial Group Inc.’s portfolio, making the stock its 14th biggest position. Cambridge Financial Group Inc.’s holdings in General Electric were worth $6,837,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company increased their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Activity at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated 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 owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

General Electric Price Performance

NYSE:GE traded up $1.47 during trading hours on Friday, hitting $164.11. 3,968,626 shares of the company’s stock traded hands, compared to its average volume of 7,987,890. General Electric has a 52 week low of $77.93 and a 52 week high of $166.26. The business’s fifty day simple moving average is $161.93 and its two-hundred day simple moving average is $138.30. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market cap of $179.64 billion, a P/E ratio of 53.81, a P/E/G ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the business earned $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 3.96 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business 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. 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 annualized dividend and a yield of 0.68%. General Electric’s payout ratio is 36.72%.

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.