Atomi Financial Group Inc. Lowers Holdings in General Electric (NYSE:GE)

Atomi Financial Group Inc. lowered its position in shares of General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,032 shares of the conglomerate’s stock after selling 300 shares during the period. Atomi Financial Group Inc.’s holdings in General Electric were worth $4,175,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its position in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp raised its stake in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the fourth quarter worth $733,000. Marietta Investment Partners LLC bought a new stake in General Electric during the 2nd quarter valued at $1,569,000. Finally, 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 valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE opened at $182.83 on Tuesday. The firm has a market capitalization of $197.87 billion, a PE ratio of 32.13, a P/E/G ratio of 1.49 and a beta of 1.19. General Electric has a 12-month low of $101.16 and a 12-month high of $194.80. The firm has a 50 day moving average of $174.30 and a two-hundred day moving average of $174.30. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping 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 firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of General Electric 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GE. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

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.