General Electric (NYSE:GE) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in General Electric (NYSE:GE - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,999 shares of the conglomerate's stock after selling 18,923 shares during the quarter. Cannell & Spears LLC's holdings in General Electric were worth $28,521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GE. New Age Alpha Advisors LLC increased its stake in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric in the fourth quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric in the fourth quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management raised its position in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

General Electric stock traded down $8.42 during mid-day trading on Thursday, reaching $191.35. 7,228,279 shares of the company traded hands, compared to its average volume of 5,435,825. General Electric has a fifty-two week low of $138.01 and a fifty-two week high of $214.21. The firm's fifty day moving average is $202.43 and its two-hundred day moving average is $187.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a market capitalization of $205.37 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

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General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.75%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have issued 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 $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.