Nicholas Hoffman & Company LLC. Sells 762 Shares of General Electric (NYSE:GE)

Nicholas Hoffman & Company LLC. lowered its stake in shares of General Electric (NYSE:GE) by 23.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,476 shares of the conglomerate’s stock after selling 762 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in General Electric were worth $435,000 at the end of the most recent reporting period.

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

General Electric Trading Down 1.7 %

General Electric stock traded down $2.74 during trading hours on Tuesday, hitting $161.75. The company had a trading volume of 6,722,311 shares, compared to its average volume of 8,063,052. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $177.05 billion, a P/E ratio of 53.03, a P/E/G ratio of 2.90 and a beta of 1.29. The company has a 50-day moving average price of $161.29 and a two-hundred day moving average price of $137.17. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, sell-side analysts anticipate that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This is an increase 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 dividend yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Insider Activity

In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group raised 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, April 24th. Finally, Jefferies Financial Group boosted their target price on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $172.29.

General Electric 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.