Parthenon LLC Has $3.05 Million Stock Holdings in General Electric (NYSE:GE)

Parthenon LLC trimmed its stake in shares of General Electric (NYSE:GE) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 23,873 shares of the conglomerate’s stock after selling 128 shares during the period. Parthenon LLC’s holdings in General Electric were worth $3,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alpha Cubed Investments LLC raised its holdings in shares of General Electric by 4.0% during the fourth quarter. Alpha Cubed Investments LLC now owns 3,289 shares of the conglomerate’s stock worth $420,000 after acquiring an additional 128 shares during the period. MONECO Advisors LLC raised its holdings in shares of General Electric by 15.0% during the fourth quarter. MONECO Advisors LLC now owns 2,125 shares of the conglomerate’s stock worth $271,000 after acquiring an additional 277 shares during the period. Mission Wealth Management LP raised its holdings in shares of General Electric by 5.9% during the fourth quarter. Mission Wealth Management LP now owns 8,314 shares of the conglomerate’s stock worth $1,061,000 after acquiring an additional 463 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of General Electric during the fourth quarter worth $218,000. Finally, Penobscot Investment Management Company Inc. raised its holdings in shares of General Electric by 15.3% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,106 shares of the conglomerate’s stock worth $396,000 after acquiring an additional 412 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of General Electric stock traded down $2.74 during midday trading on Tuesday, hitting $161.75. 6,722,311 shares of the company traded hands, compared to its average volume of 8,063,052. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm’s fifty day moving average price is $161.29 and its 200-day moving average price is $137.17. General Electric has a 12 month low of $77.93 and a 12 month high of $166.26.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is 36.72%.

Insider Activity at General Electric

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GE shares. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Bank of America raised their target price on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their target price on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

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.