Gateway Investment Advisers LLC Sells 38,136 Shares of General Electric (NYSE:GE)

Gateway Investment Advisers LLC trimmed its stake in shares of General Electric (NYSE:GE - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,139 shares of the conglomerate's stock after selling 38,136 shares during the quarter. Gateway Investment Advisers LLC's holdings in General Electric were worth $29,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC boosted its position in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after buying an additional 156,272 shares during the period. Newport Trust Company LLC bought a new stake in General Electric during the 2nd quarter worth approximately $2,613,332,000. Legal & General Group Plc increased its position in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Jennison Associates LLC increased its position in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Institutional investors own 74.77% of the company's stock.

General Electric Stock Up 1.7 %

NYSE:GE traded up $3.09 on Friday, hitting $182.83. The stock had a trading volume of 5,887,039 shares, compared to its average volume of 5,515,417. 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 has a 52 week low of $101.16 and a 52 week high of $194.80. The business's fifty day moving average is $174.38 and its 200 day moving average is $173.83. The company has a market cap of $197.87 billion, a PE ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. On average, equities research analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric's dividend payout ratio is presently 19.68%.

Analyst Ratings Changes

Several analysts recently weighed in on GE shares. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target 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. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.47.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company's stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction 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 completion of the sale, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

About General Electric

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.