General Electric (NYSE:GE) Shares Sold by Archer Investment Corp

Archer Investment Corp cut its position in General Electric (NYSE:GE) by 76.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208 shares of the conglomerate’s stock after selling 694 shares during the period. Archer Investment Corp’s holdings in General Electric were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GE. State Street Corp lifted its position in General Electric by 17.3% during the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after buying an additional 7,157,356 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp lifted its position in General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Morgan Stanley lifted its position in General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares in the last quarter. Finally, Norges Bank purchased a new position in General Electric during the fourth quarter worth approximately $635,274,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. The Goldman Sachs Group started coverage on General Electric in a research report on Tuesday, April 9th. They set a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Finally, Bank of America reduced their target price on General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

Insider Buying and Selling

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

General Electric Price Performance

GE stock opened at $155.67 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $170.19 billion, a PE ratio of 18.60, a P/E/G ratio of 3.07 and a beta of 1.29. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. The business’s fifty day moving average price is $158.87 and its 200 day moving average price is $133.96.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $19.42 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. On average, sell-side analysts anticipate that General Electric will post 3.78 EPS for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s payout ratio is presently 13.38%.

General Electric Company 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.