Inlet Private Wealth LLC Decreases Holdings in General Electric (NYSE:GE)

Inlet Private Wealth LLC lowered its stake in shares of General Electric (NYSE:GE) by 6.2% in the fourth quarter, Holdings Channel reports. The firm owned 32,537 shares of the conglomerate’s stock after selling 2,134 shares during the period. General Electric accounts for about 1.4% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 23rd largest position. Inlet Private Wealth LLC’s holdings in General Electric were worth $5,427,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its stake in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $733,000. State Street Corp raised its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Soltis Investment Advisors LLC lifted its holdings in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC grew its position in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after acquiring an additional 5,162 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. 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. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. 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, Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s 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 directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Performance

Shares of GE opened at $203.59 on Friday. General Electric has a 1 year low of $105.70 and a 1 year high of $207.65. The stock has a market capitalization of $220.35 billion, a PE ratio of 33.99, a PEG ratio of 2.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a 50-day simple moving average of $177.41 and a 200-day simple moving average of $176.30.

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

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend 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%.

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.