WealthPlan Investment Management LLC lessened its holdings in General Electric (NYSE:GE – Free Report) by 62.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,516 shares of the conglomerate’s stock after selling 4,193 shares during the period. WealthPlan Investment Management LLC’s holdings in General Electric were worth $278,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GE. Sei Investments Co. grew its stake in shares of General Electric by 10.0% in the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after purchasing an additional 27,682 shares during the period. Prudential PLC bought a new stake in shares of General Electric in the 1st quarter valued at approximately $1,518,000. Sequoia Financial Advisors LLC grew its stake in shares of General Electric by 2.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after purchasing an additional 334 shares during the period. Merit Financial Group LLC acquired a new stake in shares of General Electric in the 1st quarter valued at $388,000. Finally, West Family Investments Inc. acquired a new stake in shares of General Electric in the 1st quarter valued at $230,000. Institutional investors and hedge funds own 74.83% of the company’s stock.
General Electric Trading Up 0.2 %
Shares of GE opened at $139.28 on Monday. 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 has a 12-month low of $80.40 and a 12-month high of $139.48. The firm has a market capitalization of $151.58 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.14 and a beta of 1.25. The stock’s fifty day simple moving average is $128.13 and its 200-day simple moving average is $118.43.
General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Thursday, December 28th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. General Electric’s dividend payout ratio (DPR) is presently 3.82%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on GE shares. StockNews.com upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, February 1st. Barclays lifted their target price on shares of General Electric from $144.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Citigroup lifted their target price on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their target price on General Electric from $144.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.
Insider Buying and Selling
In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction 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 directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.
About General Electric
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.
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