SOL Capital Management CO Has $5.47 Million Position in General Electric (NYSE:GE)

SOL Capital Management CO cut its holdings in shares of General Electric (NYSE:GE) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,798 shares of the conglomerate’s stock after selling 1,632 shares during the period. SOL Capital Management CO’s holdings in General Electric were worth $5,470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Catalyst Capital Advisors LLC boosted its holdings in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter valued at $733,000. State Street Corp boosted its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC raised its stake in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC raised its stake in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Finally, UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $208.73.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’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 value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’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 sale, the senior vice president now directly owns 148,857 shares in the company, 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 owned by company insiders.

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 P/E/G ratio of 1.53 and a beta of 1.19. General Electric has a 52-week low of $105.70 and a 52-week high of $207.65. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock’s 50-day simple moving average is $176.42 and its 200 day simple moving average is $175.79.

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, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, research analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.54%. General Electric’s dividend payout ratio is currently 18.70%.

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.