Bard Financial Services Inc. Sells 135 Shares of General Electric (NYSE:GE)

Bard Financial Services Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,660 shares of the conglomerate’s stock after selling 135 shares during the quarter. Bard Financial Services Inc.’s holdings in General Electric were worth $2,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Neville Rodie & Shaw Inc. boosted its holdings in shares of General Electric by 1.4% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 84,783 shares of the conglomerate’s stock worth $14,141,000 after buying an additional 1,201 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of General Electric by 14.0% during the 4th quarter. CWA Asset Management Group LLC now owns 4,828 shares of the conglomerate’s stock worth $805,000 after purchasing an additional 594 shares during the last quarter. Versant Capital Management Inc lifted its stake in General Electric by 18.4% in the fourth quarter. Versant Capital Management Inc now owns 18,180 shares of the conglomerate’s stock valued at $3,032,000 after purchasing an additional 2,828 shares during the last quarter. Old Port Advisors grew its holdings in General Electric by 1.4% during the fourth quarter. Old Port Advisors now owns 5,609 shares of the conglomerate’s stock valued at $936,000 after purchasing an additional 78 shares during the period. Finally, Principal Financial Group Inc. increased its position in General Electric by 3.8% in the third quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock worth $249,596,000 after buying an additional 48,543 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE stock traded up $0.88 during midday trading on Monday, reaching $172.84. The company had a trading volume of 2,408,503 shares, compared to its average volume of 3,466,353. The firm has a 50-day moving average price of $174.45 and a 200-day moving average price of $173.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $187.06 billion, a P/E ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a 1 year low of $99.37 and a 1 year high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced 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 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GE. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America raised 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $201.47.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.