River Global Investors LLP Sells 101 Shares of General Electric (NYSE:GE)

River Global Investors LLP cut its holdings in General Electric (NYSE:GE) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,504 shares of the conglomerate’s stock after selling 101 shares during the period. River Global Investors LLP’s holdings in General Electric were worth $1,468,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GE. Halpern Financial Inc. raised its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of General Electric during the fourth quarter worth $27,000. CGC Financial Services LLC grew its holdings in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC increased its stake in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric during the 4th quarter valued at about $32,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.9 %

Shares of NYSE GE traded up $1.47 during trading hours on Friday, hitting $164.11. 3,968,626 shares of the stock were exchanged, compared to its average volume of 7,987,890. The firm has a fifty day moving average price of $161.93 and a 200-day moving average price of $138.30. The company has a market cap of $179.64 billion, a PE ratio of 53.81, a PEG ratio of 2.92 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26.

General Electric (NYSE:GE) last announced its earnings results 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. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. On average, sell-side analysts expect that General Electric will post 3.96 EPS for the current 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 paid a $0.28 dividend. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Ratings Changes

Several research firms have recently weighed in on GE. Vertical Research began coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Bank of America upped their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Argus raised their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group increased their target price 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. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insiders Place Their Bets

In related 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 value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by 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.