EP Wealth Advisors LLC Sells 1,011 Shares of General Electric (NYSE:GE)

EP Wealth Advisors LLC lessened its holdings in shares of General Electric (NYSE:GEFree Report) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,094 shares of the conglomerate’s stock after selling 1,011 shares during the period. EP Wealth Advisors LLC’s holdings in General Electric were worth $2,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of General Electric in the 4th quarter worth $1,193,159,000. WCM Investment Management LLC bought a new stake in shares of General Electric in the 4th quarter worth $520,488,000. Lone Pine Capital LLC bought a new stake in shares of General Electric in the 4th quarter worth $268,519,000. Brown Advisory Inc. grew its stake in shares of General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after acquiring an additional 1,873,327 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of General Electric by 11,947.8% in 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 in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. The Goldman Sachs Group increased their price target on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com initiated coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. UBS Group increased their price target on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and increased their price target for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

Check Out Our Latest Report on General Electric

General Electric Stock Up 0.1 %

General Electric stock traded up $0.19 on Friday, hitting $155.88. 6,247,401 shares of the stock traded hands, compared to its average volume of 5,314,039. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market cap of $170.63 billion, a P/E ratio of 51.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The business’s fifty day simple moving average is $160.84 and its 200 day simple moving average is $148.47. General Electric has a 1 year low of $82.11 and a 1 year high of $170.80.

General Electric (NYSE:GEGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that General Electric will post 3.99 earnings per share 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. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. General Electric’s payout ratio is currently 36.72%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

About General Electric

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GEFree Report).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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