Carret Asset Management LLC Sells 75 Shares of General Electric (NYSE:GE)

Carret Asset Management LLC reduced its stake in shares of General Electric (NYSE:GE) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 4,420 shares of the conglomerate’s stock after selling 75 shares during the quarter. Carret Asset Management LLC’s holdings in General Electric were worth $564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GE. WCM Investment Management LLC bought a new stake in General Electric during the 4th quarter valued at about $520,488,000. Brown Advisory Inc. increased its position in 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 buying an additional 2,185,793 shares in the last quarter. International Assets Investment Management LLC raised its stake in General Electric by 11,947.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after acquiring an additional 1,563,484 shares during the period. Carmignac Gestion purchased a new position in shares of General Electric during the 3rd quarter valued at $133,581,000. Finally, AQR Capital Management LLC boosted its stake in shares of General Electric by 358.4% in the third quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate’s stock worth $161,035,000 after acquiring an additional 1,138,896 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Up 0.5 %

Shares of General Electric stock traded up $0.72 on Thursday, reaching $159.91. 2,369,299 shares of the company were exchanged, compared to its average volume of 8,094,205. The company has a market capitalization of $174.82 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 3.05 and a beta of 1.29. The company has a 50-day moving average of $160.20 and a 200 day moving average of $135.55. General Electric has a one year low of $76.87 and a one year high of $163.65. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS 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 firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the company earned $0.27 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

Several analysts have 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. Bank of America lifted their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.29.

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.