Envestnet Portfolio Solutions Inc. Reduces Position in General Electric (NYSE:GE)

Envestnet Portfolio Solutions Inc. reduced its stake in General Electric (NYSE:GE - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,412 shares of the conglomerate's stock after selling 11,308 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in General Electric were worth $8,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its position in shares of General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate's stock worth $757,000 after purchasing an additional 513 shares during the period. Adero Partners LLC purchased a new position in shares of General Electric during the 3rd quarter valued at $232,000. Tower Bridge Advisors boosted its holdings in General Electric by 29.6% in the 3rd quarter. Tower Bridge Advisors now owns 2,630 shares of the conglomerate's stock worth $496,000 after buying an additional 600 shares during the period. Claro Advisors LLC increased its stake in General Electric by 13.5% in the 3rd quarter. Claro Advisors LLC now owns 4,795 shares of the conglomerate's stock worth $904,000 after buying an additional 571 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in General Electric by 34.7% during the third quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate's stock valued at $14,483,000 after acquiring an additional 19,766 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Finally, Redburn Atlantic started coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.31.

General Electric Price Performance

Shares of General Electric stock traded up $0.06 during trading hours on Friday, reaching $203.99. The company's stock had a trading volume of 7,960,146 shares, compared to its average volume of 5,375,020. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $133.99 and a one year high of $212.19. The firm has a 50 day moving average price of $197.98 and a 200-day moving average price of $184.67. The stock has a market cap of $218.94 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric's payout ratio is 24.04%.

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.