General Electric (NYSE:GE) Shares Sold by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. decreased its stake in shares of General Electric (NYSE:GE) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,041 shares of the conglomerate’s stock after selling 632 shares during the period. Altfest L J & Co. Inc.’s holdings in General Electric were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GE. Creative Financial Designs Inc. ADV grew its stake in General Electric by 9.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after buying an additional 91 shares during the period. King Wealth lifted its stake in shares of General Electric by 3.2% during the third quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock worth $330,000 after purchasing an additional 92 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of General Electric by 5.5% in the third quarter. Ancora Advisors LLC now owns 1,776 shares of the conglomerate’s stock worth $196,000 after buying an additional 92 shares during the period. Family Legacy Inc. grew its stake in shares of General Electric by 0.7% in the fourth quarter. Family Legacy Inc. now owns 13,813 shares of the conglomerate’s stock valued at $1,763,000 after buying an additional 95 shares in the last quarter. Finally, Macroview Investment Management LLC raised its holdings in shares of General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock valued at $35,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on GE shares. JPMorgan Chase & Co. upgraded shares of General Electric from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $166.00 to $180.00 in a report on Friday, March 8th. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Citigroup increased their target price on General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group upped their target price on shares of General Electric from $180.00 to $195.00 in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $150.54.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Price Performance

Shares of General Electric stock traded down $5.12 on Thursday, hitting $175.00. The company had a trading volume of 5,588,283 shares, compared to its average volume of 6,005,644. General Electric has a 52 week low of $93.47 and a 52 week high of $180.36. The company has a market cap of $191.32 billion, a PE ratio of 20.91, a PEG ratio of 2.30 and a beta of 1.28. The business has a 50-day simple moving average of $150.52 and a 200-day simple moving average of $129.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Research analysts expect that General Electric will post 4.57 EPS for the current fiscal year.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.