Highland Capital Management LLC Sells 96 Shares of General Electric (NYSE:GE)

Highland Capital Management LLC reduced its holdings in shares of General Electric (NYSE:GE) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,471 shares of the conglomerate’s stock after selling 96 shares during the quarter. Highland Capital Management LLC’s holdings in General Electric were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. CGC Financial Services LLC boosted its stake in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Macroview Investment Management LLC boosted its stake in General Electric by 43.4% in the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 96 shares during the period. Fortis Group Advisors LLC bought a new stake in General Electric in the 3rd quarter valued at $37,000. DHJJ Financial Advisors Ltd. bought a new stake in General Electric in the 3rd quarter valued at $37,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $180.12 on Thursday. General Electric has a 12-month low of $92.56 and a 12-month high of $180.36. The business has a 50-day simple moving average of $150.52 and a two-hundred day simple moving average of $129.01. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock has a market cap of $196.92 billion, a PE ratio of 21.52, a PEG ratio of 2.30 and a beta of 1.28.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Analysts anticipate that General Electric will post 4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GE shares. Barclays upped their target price on General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Citigroup upped their target price on General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Jefferies Financial Group upped their target price on General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company upped their target price on General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.54.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.