Folger Nolan Fleming Douglas Capital Management Inc. Lowers Stock Holdings in General Electric (NYSE:GE)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in shares of General Electric (NYSE:GE) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,846 shares of the conglomerate’s stock after selling 131 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $1,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Halpern Financial Inc. boosted its stake in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC boosted its stake in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC boosted its stake in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC purchased a new position in shares of General Electric in the 4th quarter valued at about $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on GE. The Goldman Sachs Group lifted their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday. Argus lifted their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup lifted their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group lowered their target price on General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Bank of America lifted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.00.

General Electric Price Performance

GE traded up $1.09 during trading on Friday, reaching $162.35. 5,898,021 shares of the stock were exchanged, compared to its average volume of 9,321,559. The business’s 50 day moving average price is $160.72 and its two-hundred day moving average price is $136.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. The company has a market capitalization of $177.71 billion, a price-to-earnings ratio of 53.22, a P/E/G ratio of 3.03 and a beta of 1.29. General Electric has a 1 year low of $77.28 and a 1 year high of $163.65.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that General Electric will post 3.95 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. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is 36.72%.

Insider Transactions at General Electric

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

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.