General Electric (NYSE:GE) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its stake in General Electric (NYSE:GE) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,356 shares of the conglomerate’s stock after selling 5,901 shares during the quarter. Exchange Traded Concepts LLC’s holdings in General Electric were worth $9,400,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew 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 valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC boosted its holdings in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC grew its position in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. increased its stake in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp raised 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 worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE opened at $196.81 on Friday. 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 has a 1-year low of $103.75 and a 1-year high of $207.65. The company has a 50-day moving average of $174.93 and a 200-day moving average of $174.77. The company has a market capitalization of $213.00 billion, a P/E ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Equities analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.80.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction 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 position. The disclosure for this sale can be found here. 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.