Avidian Wealth Solutions LLC Sells 449 Shares of General Electric (NYSE:GE)

Avidian Wealth Solutions LLC decreased its holdings in General Electric (NYSE:GE) by 22.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,571 shares of the conglomerate’s stock after selling 449 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in General Electric were worth $201,000 at the end of the most recent reporting period.

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

General Electric Trading Up 0.2 %

Shares of NYSE:GE opened at $168.23 on Tuesday. The firm has a market cap of $184.15 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 2.92 and a beta of 1.25. General Electric has a 12 month low of $78.17 and a 12 month high of $168.23. The company’s fifty day simple moving average is $162.20 and its 200 day simple moving average is $138.73. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last released 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 the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. As a group, research analysts forecast that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GE shares. Citigroup raised their price target on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group increased their price target 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, Argus lifted their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’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 value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

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.