Asset Dedication LLC Sells 462 Shares of General Electric (NYSE:GE)

Asset Dedication LLC decreased its holdings in General Electric (NYSE:GE) by 56.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 360 shares of the conglomerate’s stock after selling 462 shares during the quarter. Asset Dedication LLC’s holdings in General Electric were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Foster Group Inc. grew its position in shares of General Electric by 5.2% during the 4th quarter. Foster Group Inc. now owns 1,587 shares of the conglomerate’s stock valued at $265,000 after acquiring an additional 79 shares during the period. Kennedy Investment Group increased its position in General Electric by 4.9% in the fourth quarter. Kennedy Investment Group now owns 1,655 shares of the conglomerate’s stock worth $276,000 after buying an additional 77 shares in the last quarter. BSW Wealth Partners increased its position in General Electric by 15.8% in the fourth quarter. BSW Wealth Partners now owns 3,042 shares of the conglomerate’s stock worth $507,000 after buying an additional 416 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of General Electric by 8.9% in the fourth quarter. Perigon Wealth Management LLC now owns 15,014 shares of the conglomerate’s stock worth $2,699,000 after buying an additional 1,222 shares during the period. Finally, VCI Wealth Management LLC lifted its position in shares of General Electric by 19.3% during the 4th quarter. VCI Wealth Management LLC now owns 10,474 shares of the conglomerate’s stock valued at $1,747,000 after buying an additional 1,698 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on GE shares. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. 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. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $208.73.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $205.89 on Friday. The stock has a market capitalization of $222.83 billion, a PE ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. The company has a 50 day moving average price of $176.42 and a 200-day moving average price of $175.79. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a fifty-two week low of $105.70 and a fifty-two week high of $207.65.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Equities analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

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.