Meyer Handelman Co. Reduces Stock Holdings in General Electric (NYSE:GE)

Meyer Handelman Co. decreased its position in shares of General Electric (NYSE:GE - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 163,091 shares of the conglomerate's stock after selling 2,114 shares during the period. Meyer Handelman Co.'s holdings in General Electric were worth $27,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the third quarter worth $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $30,000. Institutional investors own 74.77% of the company's stock.

Insider Activity

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

General Electric Price Performance

Shares of NYSE GE traded up $3.48 during midday trading on Wednesday, reaching $180.34. The stock had a trading volume of 5,807,729 shares, compared to its average volume of 5,156,283. The company has a market capitalization of $195.18 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The stock has a 50-day moving average of $174.37 and a 200-day moving average of $173.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly 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 business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, research analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, December 27th. General Electric's dividend payout ratio (DPR) is currently 19.68%.

Analysts Set New Price Targets

Several research firms recently commented on GE. UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, 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 research note on Wednesday, October 23rd. Three research 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 presently has an average rating of "Moderate Buy" and a consensus target price of $201.47.

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.