General Electric (NYSE:GE) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC reduced its position in shares of General Electric (NYSE:GE) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,802 shares of the conglomerate’s stock after selling 139 shares during the period. ProVise Management Group LLC’s holdings in General Electric were worth $230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in General Electric in the 3rd quarter worth about $351,000. Empower Advisory Group LLC boosted its holdings in shares of General Electric by 8.5% during the third quarter. Empower Advisory Group LLC now owns 3,095 shares of the conglomerate’s stock worth $342,000 after purchasing an additional 242 shares during the period. Lincoln National Corp grew its position in General Electric by 2.8% during the third quarter. Lincoln National Corp now owns 14,860 shares of the conglomerate’s stock valued at $1,643,000 after purchasing an additional 405 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its stake in General Electric by 2.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 9,866 shares of the conglomerate’s stock valued at $1,091,000 after buying an additional 261 shares during the period. Finally, Victory Capital Management Inc. lifted its position in General Electric by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 386,115 shares of the conglomerate’s stock worth $42,685,000 after buying an additional 17,553 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on GE shares. StockNews.com initiated coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Citigroup lifted their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.00.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

General Electric Price Performance

Shares of NYSE:GE traded up $2.07 on Friday, hitting $167.33. The stock had a trading volume of 5,500,252 shares, compared to its average volume of 5,534,409. The company has a market capitalization of $183.16 billion, a price-to-earnings ratio of 54.86, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. General Electric has a twelve month low of $79.76 and a twelve month high of $170.80. 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’s 50 day moving average price is $162.36 and its 200-day moving average price is $143.82.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. On average, equities research analysts predict that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.