Royal Fund Management LLC Sells 438 Shares of General Electric (NYSE:GE)

Royal Fund Management LLC cut its position in General Electric (NYSE:GE) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,598 shares of the conglomerate’s stock after selling 438 shares during the period. Royal Fund Management LLC’s holdings in General Electric were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the fourth quarter worth approximately $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Trading Up 2.5 %

NYSE GE opened at $187.46 on Wednesday. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. The business’s fifty day moving average is $174.30 and its 200 day moving average is $174.30. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $202.89 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 19.68%.

General Electric Company 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.