Milestone Asset Management LLC Sells 4,073 Shares of General Electric (NYSE:GE)

Milestone Asset Management LLC lowered its stake in shares of General Electric (NYSE:GE) by 55.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,261 shares of the conglomerate’s stock after selling 4,073 shares during the quarter. Milestone Asset Management LLC’s holdings in General Electric were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Susquehanna Fundamental Investments LLC acquired a new position in General Electric during the 2nd quarter worth $811,000. Sunbelt Securities Inc. lifted its position in shares of General Electric by 11.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock worth $190,000 after purchasing an additional 123 shares during the last quarter. Truist Financial Corp boosted its stake in General Electric by 10.6% during the 2nd quarter. Truist Financial Corp now owns 220,867 shares of the conglomerate’s stock valued at $35,111,000 after purchasing an additional 21,127 shares during the period. Advisory Alpha LLC grew its holdings in General Electric by 11.3% in the 2nd quarter. Advisory Alpha LLC now owns 1,779 shares of the conglomerate’s stock valued at $283,000 after buying an additional 181 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in General Electric in the 2nd quarter worth approximately $17,179,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 3.4 %

Shares of General Electric stock opened at $205.89 on Friday. The stock has a market capitalization of $222.83 billion, a P/E ratio of 36.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $176.42 and a 200 day simple moving average of $175.79.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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.