Douglas Lane & Associates LLC Sells 28,471 Shares of General Electric (NYSE:GE)

Douglas Lane & Associates LLC reduced its position in shares of General Electric (NYSE:GE - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 593,133 shares of the conglomerate's stock after selling 28,471 shares during the period. General Electric accounts for about 1.4% of Douglas Lane & Associates LLC's holdings, making the stock its 15th biggest position. Douglas Lane & Associates LLC owned approximately 0.05% of General Electric worth $98,929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fulton Bank N.A. increased its position in shares of General Electric by 217.4% during the 4th quarter. Fulton Bank N.A. now owns 5,888 shares of the conglomerate's stock valued at $982,000 after purchasing an additional 4,033 shares during the last quarter. Spartan Planning & Wealth Management purchased a new stake in General Electric during the fourth quarter worth about $209,000. Diversified Trust Co increased its holdings in General Electric by 32.1% during the fourth quarter. Diversified Trust Co now owns 27,689 shares of the conglomerate's stock worth $4,618,000 after buying an additional 6,729 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its position in General Electric by 1.0% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 14,502 shares of the conglomerate's stock worth $2,419,000 after acquiring an additional 146 shares during the period. Finally, Fortem Financial Group LLC boosted its stake in General Electric by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 3,378 shares of the conglomerate's stock valued at $563,000 after acquiring an additional 66 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm'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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 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 company insiders.

General Electric Trading Up 0.3 %

NYSE:GE traded up $0.54 during mid-day trading on Wednesday, reaching $172.85. 4,527,662 shares of the company's stock traded hands, compared to its average volume of 4,825,919. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a 50 day moving average price of $174.36 and a 200-day moving average price of $173.28. The firm has a market capitalization of $187.07 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. On average, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric's dividend payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday. They set a "neutral" rating for the company. Wells Fargo & Company raised their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Three 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.47.

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.