Connecticut Wealth Management LLC Reduces Stock Position in General Electric (NYSE:GE)

Connecticut Wealth Management LLC decreased its position in General Electric (NYSE:GE) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,956 shares of the conglomerate’s stock after selling 203 shares during the quarter. Connecticut Wealth Management LLC’s holdings in General Electric were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Halpern Financial Inc. raised its position in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $27,000. CGC Financial Services LLC lifted its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC boosted its holdings in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Bfsg LLC bought a new stake in General Electric in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling 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 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GE. The Goldman Sachs Group upped their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays lowered their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company upped their target price on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Finally, StockNews.com initiated coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Two investment 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, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric Stock Up 0.9 %

GE stock traded up $1.47 during trading on Friday, hitting $164.11. 3,968,626 shares of the stock traded hands, compared to its average volume of 7,987,890. The stock has a market cap of $179.64 billion, a price-to-earnings ratio of 53.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26. The firm’s 50 day moving average is $161.93 and its two-hundred day moving average is $138.30.

General Electric (NYSE:GE) last posted its quarterly earnings results 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 net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

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

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.