Amalgamated Bank Sells 12,804 Shares of General Electric (NYSE:GE)

Amalgamated Bank trimmed its holdings in shares of General Electric (NYSE:GE) by 4.6% during the fourth quarter, HoldingsChannel reports. The fund owned 265,388 shares of the conglomerate’s stock after selling 12,804 shares during the quarter. Amalgamated Bank’s holdings in General Electric were worth $33,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. grew its stake in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after buying an additional 74 shares during the last quarter. Atlas Brown Inc. grew its position in General Electric by 1.0% during the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after acquiring an additional 85 shares during the last quarter. Capital Analysts LLC increased its stake in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Capital Investment Counsel Inc lifted its position in General Electric by 2.2% in the fourth quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate’s stock valued at $514,000 after purchasing an additional 88 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of General Electric by 9.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock valued at $131,000 after purchasing an additional 91 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the 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 sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Up 1.8 %

GE stock traded up $2.94 on Thursday, reaching $162.64. 4,948,439 shares of the company traded hands, compared to its average volume of 7,987,836. The firm has a fifty day simple moving average of $161.50 and a 200-day simple moving average of $137.33. The company has a market cap of $178.03 billion, a P/E ratio of 52.50, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. General Electric has a one year low of $77.93 and a one year high of $166.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

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, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. Research analysts anticipate that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

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

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company lifted their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, Argus boosted their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.