Key Client Fiduciary Advisors LLC Decreases Position in General Electric (NYSE:GE)

Key Client Fiduciary Advisors LLC reduced its stake in General Electric (NYSE:GE) by 18.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,249 shares of the conglomerate’s stock after selling 521 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in General Electric were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Prime Capital Investment Advisors LLC raised its stake in General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of General Electric by 12.5% during the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after purchasing an additional 28,985 shares during the last quarter. USA Financial Formulas lifted its stake in shares of General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after acquiring an additional 10,098 shares during the period. Grandfield & Dodd LLC increased its stake in shares of General Electric by 9.3% during the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after acquiring an additional 22,998 shares during the period. Finally, Rathbones Group PLC lifted its position in General Electric by 2.7% in the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated 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 directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $160.51 on Friday. The company has a market capitalization of $175.70 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 1.71 and a beta of 1.23. The stock has a fifty day moving average of $161.99 and a two-hundred day moving average of $150.84. General Electric has a fifty-two week low of $83.98 and a fifty-two week high of $170.80. 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 (NYSE:GE) last issued 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 during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GE. UBS Group increased their target price on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Oppenheimer restated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Bank of America increased their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

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.