SOL Capital Management CO Has $5.47 Million Stock Position in General Electric (NYSE:GE)

SOL Capital Management CO cut its holdings in General Electric (NYSE:GE) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,798 shares of the conglomerate’s stock after selling 1,632 shares during the period. SOL Capital Management CO’s holdings in General Electric were worth $5,470,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN raised its holdings in General Electric by 8.8% during the fourth quarter. OLD National Bancorp IN now owns 3,584 shares of the conglomerate’s stock worth $598,000 after acquiring an additional 290 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of General Electric by 109.2% during the 4th quarter. Synergy Asset Management LLC now owns 48,230 shares of the conglomerate’s stock worth $8,592,000 after purchasing an additional 25,170 shares in the last quarter. New England Research & Management Inc. raised its stake in shares of General Electric by 174.1% during the 4th quarter. New England Research & Management Inc. now owns 7,975 shares of the conglomerate’s stock worth $1,330,000 after purchasing an additional 5,065 shares in the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of General Electric by 32.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,267 shares of the conglomerate’s stock valued at $1,379,000 after buying an additional 2,012 shares in the last quarter. Finally, Hanson & Doremus Investment Management grew its stake in shares of General Electric by 11.0% in the fourth quarter. Hanson & Doremus Investment Management now owns 3,781 shares of the conglomerate’s stock valued at $631,000 after buying an additional 374 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Performance

NYSE GE opened at $205.89 on Friday. The firm has a 50-day moving average price of $176.42 and a two-hundred day moving average price of $175.79. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65. The company has a market capitalization of $222.83 billion, a P/E ratio of 36.18, a P/E/G ratio of 1.53 and a beta of 1.19. 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 issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. Analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Activity at General Electric

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

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.