Worth Asset Management LLC Trims Stock Position in General Electric (NYSE:GE)

Worth Asset Management LLC reduced its stake in General Electric (NYSE:GE) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,866 shares of the conglomerate’s stock after selling 951 shares during the quarter. Worth Asset Management LLC’s holdings in General Electric were worth $645,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Lantz Financial LLC raised its holdings in shares of General Electric by 1.9% during the 2nd quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after acquiring an additional 70 shares in the last quarter. Norden Group LLC lifted its position in General Electric by 19.7% during the second quarter. Norden Group LLC now owns 1,594 shares of the conglomerate’s stock valued at $253,000 after acquiring an additional 262 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of General Electric in the 2nd quarter worth $188,000. Asset Dedication LLC grew its stake in shares of General Electric by 16.4% during the second quarter. Asset Dedication LLC now owns 953 shares of the conglomerate’s stock worth $151,000 after acquiring an additional 134 shares during the last quarter. Finally, Quest Partners LLC grew its position in General Electric by 28,412.5% during the 2nd quarter. Quest Partners LLC now owns 2,281 shares of the conglomerate’s stock worth $363,000 after purchasing an additional 2,273 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

General Electric Trading Up 0.3 %

Shares of GE stock traded up $0.51 during trading hours on Wednesday, hitting $172.82. The company had a trading volume of 1,443,110 shares, compared to its average volume of 4,183,871. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80. The company’s fifty day moving average is $174.36 and its 200 day moving average is $173.28. The stock has a market capitalization of $187.04 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Northcoast Research started coverage on shares of General Electric in a report on Tuesday. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $201.47.

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.