Capital Investment Advisory Services LLC Has $1.06 Million Stock Holdings in General Electric (NYSE:GE)

Capital Investment Advisory Services LLC cut its stake in General Electric (NYSE:GE) by 21.3% during the fourth quarter, HoldingsChannel reports. The fund owned 8,330 shares of the conglomerate’s stock after selling 2,261 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in General Electric were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Atlas Brown Inc. raised its holdings in General Electric by 1.0% during the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock valued at $1,062,000 after buying an additional 85 shares during the last quarter. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in General Electric by 9.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 91 shares in the last quarter. Ballast Advisors LLC raised its holdings in General Electric by 4.8% in the 4th quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 91 shares in the last quarter. Finally, King Wealth raised its holdings in General Electric by 3.2% in the 3rd quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock worth $330,000 after purchasing an additional 92 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GE. Jefferies Financial Group decreased their price target on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Royal Bank of Canada dropped their price objective on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Price Performance

Shares of General Electric stock traded up $1.46 on Monday, hitting $149.52. 1,584,447 shares of the company traded hands, compared to its average volume of 7,918,074. The stock has a market capitalization of $163.47 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. General Electric has a 52 week low of $76.87 and a 52 week high of $158.68. The business has a 50-day simple moving average of $159.32 and a 200 day simple moving average of $134.74.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Research analysts expect that General Electric will post 3.76 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.75%. General Electric’s payout ratio is 13.38%.

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.