General Electric (NYSE:GE) Position Trimmed by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. reduced its holdings in General Electric (NYSE:GEFree Report) by 17.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,735 shares of the conglomerate’s stock after selling 377 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in General Electric were worth $221,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GE. Halpern Financial Inc. increased its position in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. CGC Financial Services LLC increased its holdings in shares of General Electric by 90.2% in the 4th 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. Global Wealth Management Investment Advisory Inc. lifted its position in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Financial Freedom LLC acquired a new position in General Electric during the 4th quarter valued at about $32,000. Finally, Macroview Investment Management LLC grew its position in General Electric by 43.4% in the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 96 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

General Electric Stock Down 22.2 %

GE traded down $38.89 on Tuesday, reaching $136.47. 20,465,471 shares of the company traded hands, compared to its average volume of 6,302,436. The company has a market cap of $149.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The stock’s 50 day moving average price is $154.32 and its 200-day moving average price is $130.76. General Electric has a 52-week low of $93.47 and a 52-week high of $180.36.

General Electric (NYSE:GEGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts expect that General Electric will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on General Electric from $177.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. StockNews.com initiated coverage on shares of General Electric in a research note on Thursday, March 28th. They set a “hold” rating on the stock. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada increased their price objective on shares of General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Barclays boosted their target price on General Electric from $153.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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General Electric Company Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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