Victory Capital Management Inc. Reduces Stock Position in General Electric (NYSE:GE)

Victory Capital Management Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,424 shares of the conglomerate’s stock after selling 5,691 shares during the period. Victory Capital Management Inc.’s holdings in General Electric were worth $48,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atlas Brown Inc. raised its holdings in General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 85 shares in the last quarter. Capital Analysts LLC grew its position in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Capital Investment Counsel Inc increased its stake in shares of General Electric by 2.2% in the 4th quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate’s stock worth $514,000 after acquiring an additional 88 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in General Electric by 9.7% during 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. Finally, Ballast Advisors LLC boosted its stake in General Electric by 4.8% during the fourth quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was 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 directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.9 %

NYSE:GE opened at $164.11 on Monday. The company has a 50 day simple moving average of $161.93 and a two-hundred day simple moving average of $138.30. The company has a market cap of $179.64 billion, a PE ratio of 53.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts forecast that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GE shares. Royal Bank of Canada lifted their target price on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. dropped their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and raised their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

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.