Continuum Wealth Advisors LLC Sells 1,701 Shares of General Electric (NYSE:GE)

Continuum Wealth Advisors LLC trimmed its position in General Electric (NYSE:GE - Free Report) by 41.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,417 shares of the conglomerate's stock after selling 1,701 shares during the period. Continuum Wealth Advisors LLC's holdings in General Electric were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC grew its position in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC increased its stake in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate's stock valued at $1,236,428,000 after purchasing an additional 413,388 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. UBS Group raised their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped 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 report on Thursday, January 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

General Electric Price Performance

GE stock traded up $5.79 during midday trading on Friday, reaching $207.22. 6,116,408 shares of the stock were exchanged, compared to its average volume of 5,268,165. General Electric has a 52 week low of $124.08 and a 52 week high of $212.19. The company has a fifty day moving average price of $189.46 and a 200 day moving average price of $181.72. 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 stock has a market capitalization of $222.40 billion, a PE ratio of 34.59, a P/E/G ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, 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. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. 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.