John G Ullman & Associates Inc. Reduces Stock Holdings in General Electric (NYSE:GE)

John G Ullman & Associates Inc. trimmed its position in General Electric (NYSE:GE) by 33.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,296 shares of the conglomerate’s stock after selling 8,644 shares during the period. John G Ullman & Associates Inc.’s holdings in General Electric were worth $3,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GE. Norges Bank purchased a new position in shares of General Electric during the 4th quarter valued at about $1,193,159,000. WCM Investment Management LLC purchased a new position in shares of General Electric during the 4th quarter valued at about $520,488,000. Lone Pine Capital LLC purchased a new position in shares of General Electric during the 4th quarter valued at about $268,519,000. Brown Advisory Inc. lifted its position in shares of General Electric by 62.3% during the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after buying an additional 1,873,327 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of General Electric by 11,947.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after buying an additional 1,563,484 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Bank of America lifted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Citigroup lifted their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, StockNews.com initiated coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

General Electric Stock Down 2.4 %

General Electric stock traded down $3.90 during midday trading on Thursday, hitting $161.80. 4,553,837 shares of the company’s stock were exchanged, compared to its average volume of 7,150,291. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market cap of $177.11 billion, a PE ratio of 53.05, a P/E/G ratio of 1.73 and a beta of 1.21. The firm has a 50-day moving average of $162.70 and a two-hundred day moving average of $153.58. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, analysts expect that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s payout ratio is 36.72%.

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.