Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stake in General Electric (NYSE:GE)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in shares of General Electric (NYSE:GE) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,358 shares of the conglomerate’s stock after selling 203 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $1,728,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the third quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the third quarter worth $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the business’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 transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’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 value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock opened at $182.83 on Friday. The business’s fifty day moving average price is $174.38 and its 200 day moving average price is $173.83. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. 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 stock has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business posted $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

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.