Iron Horse Wealth Management LLC Sells 99 Shares of General Electric (NYSE:GE)

Iron Horse Wealth Management LLC lowered its stake in shares of General Electric (NYSE:GE) by 11.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 778 shares of the conglomerate’s stock after selling 99 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in General Electric were worth $130,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Fulton Bank N.A. raised its position in General Electric by 8.4% during the third quarter. Fulton Bank N.A. now owns 1,855 shares of the conglomerate’s stock valued at $350,000 after purchasing an additional 143 shares in the last quarter. Brookstone Capital Management increased its stake in shares of General Electric by 13.5% in the 3rd quarter. Brookstone Capital Management now owns 18,927 shares of the conglomerate’s stock valued at $3,569,000 after purchasing an additional 2,258 shares during the last quarter. Hoxton Planning & Management LLC bought a new position in shares of General Electric in the 3rd quarter valued at $208,000. Strategic Wealth Partners Ltd. bought a new stake in shares of General Electric during the 3rd quarter worth $251,000. Finally, CWM LLC boosted its stake in General Electric by 17.4% in the third quarter. CWM LLC now owns 141,690 shares of the conglomerate’s stock valued at $26,720,000 after buying an additional 21,019 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the company’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 sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $206.00 on Friday. The stock’s 50 day moving average is $178.72 and its 200 day moving average is $177.35. General Electric has a one year low of $110.34 and a one year high of $207.65. The firm has a market cap of $222.95 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.53 and a beta of 1.21. 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 results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts expect that General Electric will post 5.39 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.54%. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

Analyst Ratings Changes

Several research analysts have commented on GE shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Sanford C. Bernstein upped their price objective on shares of 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 cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

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.