Chickasaw Capital Management LLC Decreases Holdings in General Electric (NYSE:GE)

Chickasaw Capital Management LLC lowered its position in General Electric (NYSE:GE) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,859 shares of the conglomerate’s stock after selling 105 shares during the period. Chickasaw Capital Management LLC’s holdings in General Electric were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of GE. Newport Trust Company LLC acquired a new stake in shares of General Electric during the second quarter worth $2,613,332,000. Jennison Associates LLC increased its holdings in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric during the second quarter worth about $580,200,000. International Assets Investment Management LLC boosted its position in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. increased its holdings in General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after buying an additional 1,605,434 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.1 %

GE traded down $0.16 on Tuesday, hitting $172.29. The company had a trading volume of 3,835,719 shares, compared to its average volume of 4,165,417. 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 firm has a market cap of $186.47 billion, a P/E ratio of 30.28, a PEG ratio of 1.63 and a beta of 1.19. The company’s fifty day moving average price is $174.39 and its 200 day moving average price is $173.23. General Electric has a 1 year low of $99.37 and a 1 year high of $194.80.

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

General Electric Dividend Announcement

The business also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GE shares. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday. They issued a “neutral” rating for the company. Finally, Citigroup raised their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Profile

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.