Beese Fulmer Investment Management Inc. Lowers Stock Holdings in General Electric (NYSE:GE)

Beese Fulmer Investment Management Inc. lessened its stake in shares of General Electric (NYSE:GE) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,099 shares of the conglomerate’s stock after selling 71 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in General Electric were worth $2,518,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth about $27,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Price Performance

NYSE GE opened at $206.00 on Friday. The stock’s fifty day moving average price is $178.72 and its 200 day moving average price is $177.35. General Electric has a 1 year low of $110.34 and a 1 year high of $207.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market cap of $222.95 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.53 and a beta of 1.21.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Announces Dividend

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