Gateway Investment Advisers LLC Sells 38,136 Shares of General Electric (NYSE:GE)

Gateway Investment Advisers LLC trimmed its holdings in General Electric (NYSE:GE) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,139 shares of the conglomerate’s stock after selling 38,136 shares during the period. Gateway Investment Advisers LLC’s holdings in General Electric were worth $29,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric during the third quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the 3rd quarter valued at $30,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 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 transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GE shares. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Performance

GE opened at $179.75 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The business has a 50 day moving average of $174.36 and a 200-day moving average of $173.79. The stock has a market cap of $194.54 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts expect that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.