Meridian Investment Counsel Inc. Sells 1,750 Shares of General Electric (NYSE:GE)

Meridian Investment Counsel Inc. lowered its position in shares of General Electric (NYSE:GE - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,425 shares of the conglomerate's stock after selling 1,750 shares during the period. Meridian Investment Counsel Inc.'s holdings in General Electric were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Circle Wealth Management LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $226,000. L.M. Kohn & Company acquired a new position in General Electric in the 3rd quarter valued at $255,000. Acropolis Investment Management LLC acquired a new position in General Electric in the 3rd quarter valued at $274,000. Erste Asset Management GmbH bought a new stake in shares of General Electric during the 3rd quarter valued at $53,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of General Electric during the 3rd quarter worth $54,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 1.9 %

Shares of GE traded up $3.75 during mid-day trading on Tuesday, reaching $203.90. 3,852,202 shares of the company were exchanged, compared to its average volume of 5,483,946. The business has a 50 day simple moving average of $201.87 and a two-hundred day simple moving average of $186.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market capitalization of $218.85 billion, a PE ratio of 34.04, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $214.21.

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

General Electric Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. UBS Group upped their target price 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 research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.31.

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.