GAMMA Investing LLC Trims Stock Position in General Electric (NYSE:GE)

GAMMA Investing LLC lessened its stake in General Electric (NYSE:GE) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,365 shares of the conglomerate’s stock after selling 124 shares during the quarter. GAMMA Investing LLC’s holdings in General Electric were worth $3,563,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter valued at $28,000. Finally, Studio Investment Management LLC increased its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.1 %

Shares of NYSE GE opened at $168.59 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $174.59 and a 200 day moving average of $173.00. General Electric has a 12-month low of $98.92 and a 12-month high of $194.80. The stock has a market cap of $182.46 billion, a PE ratio of 29.63, a P/E/G ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. General Electric’s payout ratio is 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.47.

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.