General Electric (NYSE:GE) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of General Electric (NYSE:GE - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,816 shares of the conglomerate's stock after selling 96,237 shares during the quarter. Federated Hermes Inc. owned 0.07% of General Electric worth $117,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Truvestments Capital LLC lifted its holdings in General Electric by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock valued at $39,000 after purchasing an additional 49 shares in the last quarter. Ballast Advisors LLC raised its position in shares of General Electric by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate's stock valued at $349,000 after buying an additional 51 shares during the last quarter. Blue Barn Wealth LLC lifted its stake in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock valued at $245,000 after buying an additional 54 shares during the period. Game Plan Financial Advisors LLC boosted its position in General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after acquiring an additional 55 shares during the last quarter. Finally, Red Door Wealth Management LLC grew its stake 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 acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Northcoast Research raised General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Citigroup decreased their target price on shares of General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $212.73.

General Electric Stock Down 3.7 %

Shares of GE traded down $6.96 during mid-day trading on Thursday, reaching $180.31. 4,199,350 shares of the stock traded hands, compared to its average volume of 5,472,422. The firm has a market cap of $193.52 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.59 and a beta of 1.04. The stock has a fifty day simple moving average of $199.23 and a 200 day simple moving average of $186.70. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.80%. 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 24.04%.

About General Electric

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.