Summit Trail Advisors LLC Trims Position in General Electric (NYSE:GE)

Summit Trail Advisors LLC cut its holdings in shares of General Electric (NYSE:GE) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,324 shares of the conglomerate’s stock after selling 1,004 shares during the quarter. Summit Trail Advisors LLC’s holdings in General Electric were worth $935,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GE. Prime Capital Investment Advisors LLC increased its holdings in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp raised its holdings in General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after buying an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after buying an additional 10,722 shares during the period. Grandfield & Dodd LLC raised its holdings in General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after buying an additional 22,998 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in General Electric during the third quarter worth about $1,846,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE traded up $3.83 during trading on Monday, reaching $167.94. 4,830,418 shares of the company were exchanged, compared to its average volume of 7,903,994. The stock has a market cap of $183.83 billion, a P/E ratio of 54.84, a PEG ratio of 2.92 and a beta of 1.25. The firm has a 50 day moving average of $161.93 and a 200 day moving average of $138.30. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $78.17 and a 52 week high of $167.98.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio is 36.72%.

Insider Activity

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GE shares. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. lowered their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Jefferies Financial Group upped their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $172.29.

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.