Inlet Private Wealth LLC Sells 2,134 Shares of General Electric (NYSE:GE)

Inlet Private Wealth LLC decreased its stake in shares of General Electric (NYSE:GE) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,537 shares of the conglomerate’s stock after selling 2,134 shares during the quarter. General Electric makes up 1.4% of Inlet Private Wealth LLC’s portfolio, making the stock its 23rd largest position. Inlet Private Wealth LLC’s holdings in General Electric were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the third quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Electric during the fourth quarter worth $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the subject of several recent research reports. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price target 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. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Down 1.0 %

Shares of GE stock opened at $203.59 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a fifty-two week low of $105.70 and a fifty-two week high of $207.65. The firm has a market capitalization of $220.35 billion, a PE ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. The stock’s 50-day simple moving average is $177.41 and its 200-day simple moving average is $176.30.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts expect that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. General Electric’s payout ratio is currently 18.70%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.