Flagship Harbor Advisors LLC Sells 161 Shares of General Electric (NYSE:GE)

Flagship Harbor Advisors LLC trimmed its position in General Electric (NYSE:GE) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,553 shares of the conglomerate’s stock after selling 161 shares during the period. Flagship Harbor Advisors LLC’s holdings in General Electric were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Tsfg LLC lifted its position in General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares during the last quarter. Saxon Interests Inc. increased its stake in General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 57 shares during the last quarter. Strategic Advisors LLC raised its position in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 2.0 %

NYSE:GE opened at $196.81 on Monday. The company has a 50-day moving average price of $175.33 and a 200-day moving average price of $175.08. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19.

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

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.57%. General Electric’s payout ratio is 18.70%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.80.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents 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 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.