Milestone Asset Management LLC Trims Stock Position in General Electric (NYSE:GE)

Milestone Asset Management LLC trimmed its stake in General Electric (NYSE:GE) by 55.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,261 shares of the conglomerate’s stock after selling 4,073 shares during the period. Milestone Asset Management LLC’s holdings in General Electric were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Tsfg LLC grew its stake in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. Red Door Wealth Management LLC grew its position in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares in the last quarter. Saxon Interests Inc. increased its stake in General Electric by 4.2% during 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 during the period. Strategic Advisors LLC raised its position in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after acquiring an additional 60 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE:GE opened at $205.89 on Friday. The company’s fifty day moving average is $176.42 and its two-hundred day moving average is $175.79. The company has a market cap of $222.83 billion, a P/E ratio of 36.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Equities analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.