Avity Investment Management Inc. Sells 100 Shares of General Electric (NYSE:GE)

Avity Investment Management Inc. trimmed its position in General Electric (NYSE:GE) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,485 shares of the conglomerate’s stock after selling 100 shares during the period. Avity Investment Management Inc.’s holdings in General Electric were worth $748,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC boosted its stake in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares in the last quarter. Newport Trust Company LLC purchased a new stake in General Electric in the second quarter worth about $2,613,332,000. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of General Electric by 91.8% during 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 last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company lifted 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. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Trading Up 3.0 %

Shares of GE stock opened at $176.77 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The stock has a market capitalization of $191.32 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19. The firm’s 50 day moving average is $174.37 and its 200 day moving average is $173.74.

General Electric (NYSE:GE) last released 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 analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. Research analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

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

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.