Cullinan Associates Inc. Has $1.04 Million Holdings in General Electric (NYSE:GE)

Cullinan Associates Inc. decreased its holdings in General Electric (NYSE:GE) by 26.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,214 shares of the conglomerate’s stock after selling 2,251 shares during the period. Cullinan Associates Inc.’s holdings in General Electric were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the third quarter valued at about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Electric in the fourth quarter worth $29,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America upped their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Trading Up 0.2 %

General Electric stock opened at $204.03 on Tuesday. The firm has a market capitalization of $220.81 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.53 and a beta of 1.21. General Electric has a 12-month low of $108.60 and a 12-month high of $207.65. The firm has a 50 day moving average of $177.41 and a 200 day moving average of $176.54. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts predict that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.