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

Meyer Handelman Co. lowered its holdings in shares of General Electric (NYSE:GE - Free Report) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,813 shares of the conglomerate's stock after selling 12,024 shares during the quarter. Meyer Handelman Co.'s holdings in General Electric were worth $25,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CGC Financial Services LLC boosted its stake in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate's stock worth $30,000 after purchasing an additional 110 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its stake in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate's stock worth $31,000 after purchasing an additional 299 shares during the period. Financial Freedom LLC bought a new position in General Electric in the 4th quarter worth approximately $32,000. Macroview Investment Management LLC boosted its stake in General Electric by 43.4% in the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate's stock worth $35,000 after purchasing an additional 96 shares during the period. Finally, DHJJ Financial Advisors Ltd. bought a new position in General Electric in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Price Performance

Shares of GE traded down $1.64 during mid-day trading on Monday, hitting $173.51. The company's stock had a trading volume of 5,017,086 shares, compared to its average volume of 5,980,905. 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 firm has a 50-day simple moving average of $148.73 and a 200 day simple moving average of $128.14. The firm has a market capitalization of $189.69 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.32 and a beta of 1.28. General Electric has a 1-year low of $92.11 and a 1-year high of $177.50.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The business's revenue for the quarter was up 15.4% on a year-over-year basis. Analysts predict that General Electric will post 4.57 EPS for the current fiscal year.

Analysts Set New Price Targets

GE has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on General Electric from $144.00 to $148.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded General Electric from a "neutral" rating to an "overweight" rating and increased their price target for the company from $166.00 to $180.00 in a report on Friday, March 8th. TheStreet upgraded General Electric from a "c+" rating to a "b+" rating in a research note on Tuesday, January 23rd. Barclays increased their target price on General Electric from $153.00 to $181.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Finally, Oppenheimer reissued a "market perform" rating on shares of General Electric in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of "Moderate Buy" and a consensus price target of $146.54.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was 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 directly owns 56,284 shares of the company's stock, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.