Blue Trust Inc. Reduces Holdings in General Electric (NYSE:GE)

Blue Trust Inc. cut its stake in shares of General Electric (NYSE:GE - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,465 shares of the conglomerate's stock after selling 2,178 shares during the quarter. Blue Trust Inc.'s holdings in General Electric were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Red Door Wealth Management LLC raised its holdings in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock worth $241,000 after purchasing an additional 56 shares in the last quarter. Saxon Interests Inc. raised its holdings in General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock worth $238,000 after purchasing an additional 57 shares in the last quarter. Old North State Wealth Management LLC raised its holdings in General Electric by 3.0% in the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate's stock worth $331,000 after purchasing an additional 58 shares in the last quarter. Northeast Investment Management raised its holdings in General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate's stock worth $452,000 after purchasing an additional 59 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its holdings in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate's stock worth $1,188,000 after purchasing an additional 60 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of NYSE GE traded up $0.20 during trading on Wednesday, reaching $210.28. 2,694,406 shares of the company traded hands, compared to its average volume of 5,496,593. The firm has a 50 day simple moving average of $184.18 and a 200-day simple moving average of $180.02. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $225.69 billion, a PE ratio of 35.11, a P/E/G ratio of 2.59 and a beta of 1.22. General Electric has a 52-week low of $118.13 and a 52-week high of $212.19.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is presently 18.70%.

Analysts Set New Price Targets

Several brokerages have commented on GE. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Melius Research increased their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Finally, UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $211.31.

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.