General Electric (NYSE:GE) Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its stake in shares of General Electric (NYSE:GE) by 34.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,095 shares of the conglomerate’s stock after selling 1,102 shares during the quarter. RFG Advisory LLC’s holdings in General Electric were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atlas Brown Inc. increased its stake in shares of General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 85 shares during the period. Creative Financial Designs Inc. ADV increased its position in General Electric by 9.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 91 shares during the period. King Wealth raised its stake in shares of General Electric by 3.2% during the third quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock valued at $330,000 after purchasing an additional 92 shares in the last quarter. Ancora Advisors LLC raised its position in shares of General Electric by 5.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the conglomerate’s stock worth $196,000 after buying an additional 92 shares in the last quarter. Finally, Family Legacy Inc. lifted its position in General Electric by 0.7% in the fourth quarter. Family Legacy Inc. now owns 13,813 shares of the conglomerate’s stock worth $1,763,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Down 1.9 %

GE stock opened at $154.66 on Friday. The company has a 50 day moving average of $157.82 and a two-hundred day moving average of $132.88. The company has a market cap of $169.09 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.09 and a beta of 1.29. General Electric has a 12-month low of $74.78 and a 12-month high of $158.44. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. General Electric’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. On average, equities analysts anticipate that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s payout ratio is currently 3.82%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GE. JPMorgan Chase & Co. reduced their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada decreased their price target on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group cut their target price on General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.67.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.