General Electric (NYSE:GE) Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC reduced its position in shares of General Electric (NYSE:GE) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,819 shares of the conglomerate’s stock after selling 765 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in General Electric were worth $487,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the last quarter. Norges Bank acquired a new stake in shares of General Electric in the fourth quarter worth approximately $635,274,000. State Street Corp boosted its position in shares of General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after acquiring an additional 7,157,356 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of General Electric in the fourth quarter worth approximately $520,488,000. Finally, Brown Advisory Inc. boosted its position in shares of General Electric by 265.7% in the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock worth $332,581,000 after acquiring an additional 2,185,793 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric 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 sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, 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.

General Electric Stock Down 3.2 %

Shares of GE traded down $4.88 during mid-day trading on Friday, reaching $148.06. 9,566,097 shares of the stock traded hands, compared to its average volume of 8,410,895. The firm has a market cap of $161.87 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 3.00 and a beta of 1.29. The stock has a fifty day simple moving average of $159.32 and a 200 day simple moving average of $134.37. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Sell-side analysts expect that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is 13.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Bank of America reduced their price target on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Finally, Royal Bank of Canada reduced their price target on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

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.