Sendero Wealth Management LLC Decreases Position in General Electric (NYSE:GE)

Sendero Wealth Management LLC decreased its holdings in shares of General Electric (NYSE:GE) by 48.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,808 shares of the conglomerate’s stock after selling 7,422 shares during the quarter. Sendero Wealth Management LLC’s holdings in General Electric were worth $1,371,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Asset Advisory Services LLC lifted its stake in General Electric by 8.3% during the first quarter. Capital Asset Advisory Services LLC now owns 2,291 shares of the conglomerate’s stock worth $402,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in General Electric by 27.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,930 shares of the conglomerate’s stock valued at $865,000 after buying an additional 1,049 shares during the last quarter. Courage Miller Partners LLC purchased a new stake in General Electric in the first quarter valued at approximately $383,000. 180 Wealth Advisors LLC lifted its stake in General Electric by 2.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,132 shares of the conglomerate’s stock valued at $1,252,000 after buying an additional 155 shares during the last quarter. Finally, Investment Partners LTD. purchased a new stake in General Electric in the first quarter valued at approximately $257,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GE shares. Royal Bank of Canada boosted their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group upped their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group upped their price target on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays cut their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, StockNews.com initiated coverage on General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $177.60.

General Electric Price Performance

Shares of NYSE:GE traded down $1.49 on Friday, hitting $159.01. The company had a trading volume of 8,640,715 shares, compared to its average volume of 7,348,133. 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 $84.42 and a 52-week high of $170.80. The business has a 50 day moving average of $162.36 and a 200 day moving average of $151.17. The company has a market cap of $174.05 billion, a PE ratio of 52.13, a PEG ratio of 1.71 and a beta of 1.23.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s dividend payout ratio is currently 36.72%.

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.