Buckley Wealth Management LLC Sells 350 Shares of General Electric (NYSE:GE)

Buckley Wealth Management LLC trimmed its position in General Electric (NYSE:GE) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,645 shares of the conglomerate’s stock after selling 350 shares during the period. Buckley Wealth Management LLC’s holdings in General Electric were worth $942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC acquired a new position in General Electric during the 4th quarter valued at about $733,000. Chung Wu Investment Group LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $795,000. State Street Corp raised its holdings 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 worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC raised its holdings in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares during the period. Finally, World Investment Advisors LLC raised its holdings in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on GE shares. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Bank of America increased their price target 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. UBS Group raised their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

General Electric stock opened at $197.39 on Friday. General Electric has a 12-month low of $131.91 and a 12-month high of $212.19. The stock has a market cap of $211.85 billion, a P/E ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. The company has a 50-day moving average price of $195.54 and a 200 day moving average price of $183.82. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.