General Electric (NYSE:GE) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its stake in shares of General Electric (NYSE:GE) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 37,540 shares of the conglomerate’s stock after selling 5,514 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in General Electric were worth $4,791,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GE. JB Capital LLC lifted its stake in shares of General Electric by 37.0% in the third quarter. JB Capital LLC now owns 2,902 shares of the conglomerate’s stock worth $321,000 after buying an additional 783 shares in the last quarter. Lindbrook Capital LLC lifted its position in General Electric by 2.8% during the third quarter. Lindbrook Capital LLC now owns 5,039 shares of the conglomerate’s stock worth $557,000 after buying an additional 138 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in General Electric in the 3rd quarter valued at $67,000. Crescent Grove Advisors LLC purchased a new position in shares of General Electric during the 3rd quarter worth $204,000. Finally, FORVIS Wealth Advisors LLC increased its position in General Electric by 6.9% during the third quarter. FORVIS Wealth Advisors LLC now owns 8,871 shares of the conglomerate’s stock worth $981,000 after purchasing an additional 570 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GE shares. StockNews.com started coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Citigroup lifted their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. The Goldman Sachs Group lifted their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $172.29.

General Electric Stock Performance

GE traded up $3.86 on Monday, hitting $167.97. 4,532,737 shares of the company traded hands, compared to its average volume of 7,902,885. General Electric has a 12-month low of $78.17 and a 12-month high of $167.98. The company has a 50 day moving average of $161.93 and a 200-day moving average of $138.30. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $183.86 billion, a PE ratio of 54.84, a PEG ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.67%. General Electric’s payout ratio is presently 36.72%.

Insider Buying and Selling at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

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.