Kanawha Capital Management LLC Has $1.70 Million Position in General Electric (NYSE:GE)

Kanawha Capital Management LLC reduced its holdings in General Electric (NYSE:GE) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,201 shares of the conglomerate’s stock after selling 88 shares during the period. Kanawha Capital Management LLC’s holdings in General Electric were worth $1,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric in the 4th quarter valued at $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter valued at $28,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction 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 represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

GE stock opened at $208.35 on Friday. The company has a 50 day simple moving average of $181.29 and a 200 day simple moving average of $178.78. The stock has a market cap of $223.62 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.56 and a beta of 1.22. General Electric has a 1 year low of $113.88 and a 1 year high of $211.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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, 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%. Research analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared 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 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

Analysts Set New Price Targets

Several brokerages have issued reports on GE. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric 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.