Hunter Associates Investment Management LLC Cuts Holdings in General Electric (NYSE:GE)

Hunter Associates Investment Management LLC lessened its position in shares of General Electric (NYSE:GE) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,576 shares of the conglomerate’s stock after selling 265 shares during the period. Hunter Associates Investment Management LLC’s holdings in General Electric were worth $1,266,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Price Performance

Shares of NYSE GE opened at $205.89 on Friday. The business has a 50 day simple moving average of $176.42 and a 200-day simple moving average of $175.79. General Electric has a twelve month low of $105.70 and a twelve month high of $207.65. The company has a market capitalization of $222.83 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted 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%. As a group, equities research analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

The business 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 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.