RMR Wealth Builders Has $207,000 Stock Position in General Electric (NYSE:GE)

RMR Wealth Builders lessened its stake in General Electric (NYSE:GE) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,244 shares of the conglomerate’s stock after selling 249 shares during the quarter. RMR Wealth Builders’ holdings in General Electric were worth $207,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC boosted its position in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the last quarter. Newport Trust Company LLC bought a new position in General Electric in the second quarter valued at approximately $2,613,332,000. Legal & General Group Plc increased its position in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Down 0.3 %

GE stock opened at $179.75 on Friday. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80. The stock has a fifty day moving average of $174.36 and a 200-day moving average of $173.79. The company has a market capitalization of $194.54 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GE shares. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped 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. Wells Fargo & Company lifted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

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.