Merit Financial Group LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Merit Financial Group LLC trimmed its position in General Electric (NYSE:GE) by 56.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,752 shares of the conglomerate’s stock after selling 11,187 shares during the period. Merit Financial Group LLC’s holdings in General Electric were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Halpern Financial Inc. increased its holdings in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $27,000. CGC Financial Services LLC boosted its position in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares during the last quarter. Capital Analysts LLC grew its position in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred 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 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 through this link. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Bank of America boosted their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus raised their price objective on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $172.29.

General Electric Trading Up 0.9 %

General Electric stock opened at $164.11 on Monday. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26. The firm’s 50 day moving average price is $161.93 and its two-hundred day moving average price is $138.30. The firm has a market cap of $179.64 billion, a price-to-earnings ratio of 53.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.