Sargent Investment Group LLC Reduces Position in General Electric (NYSE:GE)

Sargent Investment Group LLC reduced its holdings in General Electric (NYSE:GE) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,395 shares of the conglomerate’s stock after selling 780 shares during the quarter. Sargent Investment Group LLC’s holdings in General Electric were worth $2,348,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Halpern Financial Inc. lifted its holdings in 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 during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of General Electric during the fourth quarter worth about $27,000. CGC Financial Services LLC increased its holdings in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC lifted its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new position in General Electric during the 4th quarter valued at about $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’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 value of $1,843,615.55. Following the completion of the sale, the senior vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $1,843,615.55. Following the sale, the senior vice president now 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 Performance

GE stock traded up $1.09 during trading hours on Friday, hitting $162.35. 5,898,021 shares of the stock were exchanged, compared to its average volume of 9,321,559. General Electric has a 12 month low of $77.28 and a 12 month 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. The firm has a market capitalization of $177.71 billion, a P/E ratio of 53.23, a P/E/G ratio of 3.05 and a beta of 1.29. The company has a 50-day simple moving average of $160.72 and a two-hundred day simple moving average of $136.27.

General Electric (NYSE:GE) last released its quarterly earnings results 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 net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts forecast that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price 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. The Goldman Sachs Group lifted their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Barclays reduced their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $170.00.

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.