Harvest Fund Management Co. Ltd Has $671,000 Stock Holdings in General Electric (NYSE:GE)

Harvest Fund Management Co. Ltd decreased its holdings in General Electric (NYSE:GE) by 43.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,254 shares of the conglomerate’s stock after selling 4,027 shares during the period. Harvest Fund Management Co. Ltd’s holdings in General Electric were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. First National Bank Sioux Falls acquired a new stake in General Electric in the 4th quarter worth about $206,000. GAMMA Investing LLC acquired a new position in shares of General Electric in the 4th quarter valued at approximately $1,583,000. Parkside Financial Bank & Trust raised its position in shares of General Electric by 3.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 6,254 shares of the conglomerate’s stock valued at $798,000 after buying an additional 196 shares in the last quarter. RWA Wealth Partners LLC raised its position in shares of General Electric by 466.7% in the 4th quarter. RWA Wealth Partners LLC now owns 23,933 shares of the conglomerate’s stock valued at $3,055,000 after buying an additional 19,710 shares in the last quarter. Finally, Monument Capital Management acquired a new position in shares of General Electric in the 4th quarter valued at approximately $323,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GE shares. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Argus boosted their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Vertical Research assumed coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.29.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Price Performance

Shares of General Electric stock traded down $3.43 on Wednesday, reaching $159.19. The stock had a trading volume of 10,304,581 shares, compared to its average volume of 8,152,236. General Electric has a 1 year low of $76.87 and a 1 year high of $163.65. The company has a market cap of $174.04 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $159.94 and its two-hundred day moving average is $135.39.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 3.76 EPS for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

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.