Griffin Asset Management Inc. Sells 2,432 Shares of General Electric (NYSE:GE)

Griffin Asset Management Inc. reduced its stake in shares of General Electric (NYSE:GEFree Report) by 11.9% during the fourth quarter, Holdings Channel reports. The firm owned 17,940 shares of the conglomerate’s stock after selling 2,432 shares during the quarter. Griffin Asset Management Inc.’s holdings in General Electric were worth $2,992,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new position in shares of General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of General Electric in the third quarter worth about $30,000. 74.77% of the stock is owned by institutional investors.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GE shares. Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Finally, Northcoast Research initiated coverage on shares of General Electric in a report 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.73.

Read Our Latest Stock Report on General Electric

General Electric Stock Down 1.2 %

Shares of General Electric stock opened at $194.30 on Tuesday. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65. The stock has a market cap of $210.29 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. 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 company has a fifty day moving average price of $175.33 and a 200 day moving average price of $175.15.

General Electric (NYSE:GEGet Free Report) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Equities research analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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