Scholtz & Company LLC reduced its position in General Electric (NYSE:GE - Free Report) by 29.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,677 shares of the conglomerate's stock after selling 13,198 shares during the quarter. General Electric accounts for approximately 2.5% of Scholtz & Company LLC's holdings, making the stock its 15th biggest holding. Scholtz & Company LLC's holdings in General Electric were worth $5,283,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC bought a new position in shares of General Electric in the fourth quarter worth about $733,000. Chung Wu Investment Group LLC bought a new position in General Electric in the 4th quarter worth about $795,000. State Street Corp increased its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of General Electric by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. Institutional investors own 74.77% of the company's stock.
General Electric Stock Down 11.1 %
GE stock traded down $20.87 on Friday, hitting $166.76. 18,160,091 shares of the company's stock were exchanged, compared to its average volume of 5,400,110. The firm has a 50 day moving average price of $201.56 and a two-hundred day moving average price of $187.07. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The stock has a market cap of $178.98 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts expect that General Electric will post 5.4 EPS for the current fiscal year.
General Electric Increases Dividend
The business also recently declared 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 is a positive change 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 0.86%. General Electric's dividend payout ratio is presently 24.04%.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and an average price target of $214.73.
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About General Electric
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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.
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