Evermay Wealth Management LLC Decreases Stake in General Electric (NYSE:GE)

Evermay Wealth Management LLC reduced its holdings in shares of General Electric (NYSE:GE) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,510 shares of the conglomerate’s stock after selling 223 shares during the quarter. Evermay Wealth Management LLC’s holdings in General Electric were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GE. Jennison Associates LLC grew its position in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. International Assets Investment Management LLC grew its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC increased its position in General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the period. Franklin Resources Inc. lifted its stake in General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 1.0 %

GE stock opened at $203.59 on Friday. The company has a 50 day moving average of $177.41 and a two-hundred day moving average of $176.30. The company has a market cap of $220.35 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.48 and a beta of 1.19. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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 return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is 18.70%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents 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 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.