RMR Wealth Builders Decreases Stake in General Electric (NYSE:GE)

RMR Wealth Builders lowered its stake in General Electric (NYSE:GE) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,244 shares of the conglomerate’s stock after selling 249 shares during the period. RMR Wealth Builders’ holdings in General Electric were worth $207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its holdings in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new position in shares of General Electric in the second quarter worth $1,569,000. State Street Corp raised its holdings in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $171.65 on Friday. The company’s 50-day moving average price is $174.34 and its 200-day moving average price is $173.36. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $185.78 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. On average, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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.