Allspring Global Investments Holdings LLC Sells 18,071 Shares of General Electric (NYSE:GE)

Allspring Global Investments Holdings LLC decreased its holdings in General Electric (NYSE:GE) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 941,590 shares of the conglomerate’s stock after selling 18,071 shares during the period. Allspring Global Investments Holdings LLC’s holdings in General Electric were worth $158,646,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tsfg LLC grew its position in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares during the last quarter. Saxon Interests Inc. grew its holdings in General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares in the last quarter. Old North State Wealth Management LLC grew its holdings in General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after buying an additional 58 shares in the last quarter. Finally, Northeast Investment Management increased its stake in shares of General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Price Performance

General Electric stock opened at $209.03 on Wednesday. The company has a market cap of $224.35 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. General Electric has a one year low of $110.95 and a one year high of $209.15. The business has a fifty day moving average of $180.18 and a two-hundred day moving average of $178.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts predict that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. General Electric’s dividend payout ratio is presently 18.70%.

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.