Tennessee Valley Asset Management Partners Sells 63 Shares of General Electric (NYSE:GE)

Tennessee Valley Asset Management Partners reduced its position in shares of General Electric (NYSE:GE) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,903 shares of the conglomerate’s stock after selling 63 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in General Electric were worth $317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peak Financial Management Inc. grew its position in General Electric by 14.5% in the fourth quarter. Peak Financial Management Inc. now owns 2,370 shares of the conglomerate’s stock worth $395,000 after acquiring an additional 301 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its stake in shares of General Electric by 1.2% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 12,199 shares of the conglomerate’s stock valued at $2,035,000 after purchasing an additional 140 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of General Electric by 100.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 313 shares of the conglomerate’s stock worth $52,000 after purchasing an additional 157 shares during the period. Grimes & Company Inc. increased its position in shares of General Electric by 0.6% during the 4th quarter. Grimes & Company Inc. now owns 13,981 shares of the conglomerate’s stock valued at $2,332,000 after purchasing an additional 79 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in General Electric by 3.2% during the 4th quarter. Fifth Third Bancorp now owns 424,718 shares of the conglomerate’s stock valued at $70,839,000 after buying an additional 13,177 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % 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 company insiders.

General Electric Stock Down 2.0 %

Shares of General Electric stock opened at $196.81 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. The firm’s 50-day moving average is $175.33 and its two-hundred day moving average is $175.08. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, research analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business 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 $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 18.70%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $205.80.

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.