Aaron Wealth Advisors LLC Sells 530 Shares of General Electric (NYSE:GE)

Aaron Wealth Advisors LLC decreased its holdings in shares of General Electric (NYSE:GE) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,243 shares of the conglomerate’s stock after selling 530 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in General Electric were worth $874,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric during the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric during the 3rd quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 1.7 %

Shares of General Electric stock opened at $182.83 on Friday. The firm has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The stock’s 50-day moving average is $174.33 and its 200 day moving average is $174.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $101.16 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. Equities research analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GE. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.47.

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.