General Electric (NYSE:GE) Shares Sold by WFA Asset Management Corp

WFA Asset Management Corp lessened its stake in General Electric (NYSE:GE) by 14.9% during the first quarter, HoldingsChannel.com reports. The firm owned 1,825 shares of the conglomerate’s stock after selling 320 shares during the period. WFA Asset Management Corp’s holdings in General Electric were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Walker Asset Management LLC increased its stake in shares of General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 70 shares during the period. BKM Wealth Management LLC boosted its holdings in shares of General Electric by 2.6% in the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after acquiring an additional 75 shares in the last quarter. Finally, Forte Capital LLC ADV boosted its holdings in shares of General Electric by 2.1% in the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and raised their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada raised their price objective on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Stock Performance

GE traded up $2.51 during trading on Wednesday, hitting $163.96. The stock had a trading volume of 1,458,190 shares, compared to its average volume of 7,262,279. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market cap of $179.47 billion, a PE ratio of 53.75, a P/E/G ratio of 1.69 and a beta of 1.22. The company has a 50 day simple moving average of $162.51 and a 200-day simple moving average of $152.12. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. Analysts expect that General Electric will post 4 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

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.