West Branch Capital LLC Cuts Position in General Electric (NYSE:GE)

West Branch Capital LLC lowered its position in General Electric (NYSE:GE) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 675 shares of the conglomerate’s stock after selling 365 shares during the quarter. West Branch Capital LLC’s holdings in General Electric were worth $113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Electric during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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. Finally, Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Up 2.5 %

Shares of NYSE GE opened at $187.46 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $174.30 and a 200 day moving average price of $174.30. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80. The stock has a market capitalization of $202.89 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. Equities research analysts anticipate that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s payout ratio is 19.68%.

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.