General Electric (NYSE:GE) Shares Sold by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC lowered its stake in General Electric (NYSE:GE) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,571 shares of the conglomerate’s stock after selling 449 shares during the period. Avidian Wealth Solutions LLC’s holdings in General Electric were worth $201,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Halpern Financial Inc. raised its stake in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in General Electric in the fourth quarter worth $27,000. CGC Financial Services LLC lifted its holdings in 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 acquiring an additional 110 shares during the period. Capital Analysts LLC boosted its position in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric during the 4th quarter worth $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America upped their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays reduced their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company upped their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Citigroup lifted their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’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 transaction, 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 is available at the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $168.23 on Tuesday. The company has a market capitalization of $184.15 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 1 year low of $78.17 and a 1 year high of $168.23. The company’s 50 day simple moving average is $162.20 and its 200 day simple moving average is $138.73.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, sell-side analysts predict that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

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

General Electric Company 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.