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

Meridian Investment Counsel Inc. cut its holdings in General Electric (NYSE:GE - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,425 shares of the conglomerate's stock after selling 1,750 shares during the quarter. Meridian Investment Counsel Inc.'s holdings in General Electric were worth $1,739,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have weighed in on GE. Wells Fargo & Company lifted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price on 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 initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, General Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.31.

General Electric Stock Down 3.8 %

Shares of NYSE GE traded down $7.64 during mid-day trading on Thursday, reaching $192.13. 7,920,923 shares of the company traded hands, compared to its average volume of 5,436,960. The company's fifty day moving average is $202.43 and its two-hundred day moving average is $187.12. General Electric has a fifty-two week low of $138.01 and a fifty-two week high of $214.21. 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 cap of $206.21 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

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

General Electric Increases Dividend

The firm also recently declared 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 an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, March 10th. General Electric's dividend payout ratio (DPR) is currently 24.04%.

General Electric Company 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.