CIBC Private Wealth Group LLC Cuts Position in General Electric (NYSE:GE)

CIBC Private Wealth Group LLC lowered its stake in shares of General Electric (NYSE:GE - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,880 shares of the conglomerate's stock after selling 10,155 shares during the period. CIBC Private Wealth Group LLC's holdings in General Electric were worth $15,712,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GE. RWA Wealth Partners LLC raised its stake in General Electric by 1.4% in the 4th quarter. RWA Wealth Partners LLC now owns 23,263 shares of the conglomerate's stock valued at $3,880,000 after acquiring an additional 315 shares during the period. Schroder Investment Management Group raised its holdings in General Electric by 50.0% in the 4th quarter. Schroder Investment Management Group now owns 1,134,597 shares of the conglomerate's stock valued at $190,726,000 after acquiring an additional 378,371 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in General Electric by 298.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,178 shares of the conglomerate's stock worth $25,549,000 after acquiring an additional 114,764 shares during the last quarter. American Money Management LLC grew its position in shares of General Electric by 3.4% in the fourth quarter. American Money Management LLC now owns 17,209 shares of the conglomerate's stock valued at $2,870,000 after purchasing an additional 566 shares during the last quarter. Finally, Okabena Investment Services Inc. increased its stake in shares of General Electric by 5.8% during the fourth quarter. Okabena Investment Services Inc. now owns 11,093 shares of the conglomerate's stock worth $1,850,000 after purchasing an additional 609 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Remove Ads

General Electric Trading Down 4.7 %

GE stock traded down $9.40 during mid-day trading on Thursday, reaching $190.37. The company's stock had a trading volume of 8,814,084 shares, compared to its average volume of 5,441,290. The company has a market cap of $204.32 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $138.01 and a 12 month high of $214.21. The business's 50 day moving average price is $202.43 and its 200 day moving average price is $187.12. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Finally, UBS Group raised their target price on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.

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.