AM Investment Strategies LLC Has $9.84 Million Holdings in General Electric (NYSE:GE)

AM Investment Strategies LLC cut its position in shares of General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,016 shares of the conglomerate’s stock after selling 741 shares during the quarter. General Electric accounts for about 2.4% of AM Investment Strategies LLC’s investment portfolio, making the stock its 9th largest holding. AM Investment Strategies LLC’s holdings in General Electric were worth $9,843,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GE. Catalyst Capital Advisors LLC boosted its position in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the period. Johnson & White Wealth Management LLC bought a new position in shares of General Electric during the fourth quarter worth about $733,000. State Street Corp increased its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Finally, Soltis Investment Advisors LLC lifted its position in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $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. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $205.80.

General Electric Stock Performance

GE stock opened at $196.81 on Friday. The firm has a 50 day simple moving average of $174.93 and a 200 day simple moving average of $174.77. General Electric has a 52 week low of $103.75 and a 52 week high of $207.65. The stock has a market cap of $213.00 billion, a P/E ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Research analysts anticipate that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is presently 19.68%.

General Electric 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.