New York Life Investment Management LLC Trims Stake in General Electric (NYSE:GE)

New York Life Investment Management LLC lowered its holdings in shares of General Electric (NYSE:GE) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,553 shares of the conglomerate’s stock after selling 1,205 shares during the quarter. New York Life Investment Management LLC’s holdings in General Electric were worth $19,726,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Halpern Financial Inc. boosted its holdings in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of General Electric in the fourth quarter worth about $27,000. CGC Financial Services LLC grew its holdings in General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC lifted its holdings in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the period. Finally, Bfsg LLC acquired a new position in shares of General Electric in the 4th quarter valued at $32,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Vertical Research started coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group raised their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, TD Cowen raised shares of 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 research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred 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 owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were 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 in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now 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 owned by insiders.

General Electric Stock Down 1.3 %

Shares of NYSE:GE traded down $2.12 during trading on Wednesday, hitting $159.70. The company’s stock had a trading volume of 4,775,689 shares, compared to its average volume of 8,024,032. General Electric has a fifty-two week low of $77.93 and a fifty-two week high of $166.26. The stock’s 50-day moving average price is $161.29 and its two-hundred day moving average price is $137.17. 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 company has a market capitalization of $174.81 billion, a PE ratio of 52.18, a PEG ratio of 2.93 and a beta of 1.29.

General Electric (NYSE:GE) last posted 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 firm 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%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, sell-side analysts expect that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The firm 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 represents a $1.12 dividend on an annualized basis and a yield of 0.70%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio is 36.72%.

General Electric Company 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.