Scholtz & Company LLC trimmed its position in shares of General Electric (NYSE:GE - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,677 shares of the conglomerate's stock after selling 13,198 shares during the quarter. General Electric comprises about 2.5% of Scholtz & Company LLC's investment portfolio, making the stock its 15th largest holding. Scholtz & Company LLC's holdings in General Electric were worth $5,283,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC grew its position in General Electric by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the fourth quarter valued at about $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric in the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $29,000. Finally, Picton Mahoney Asset Management raised its position in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock worth $30,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.
General Electric Trading Down 6.2 %
Shares of General Electric stock traded down $12.47 during mid-day trading on Thursday, hitting $187.30. The stock had a trading volume of 12,747,869 shares, compared to its average volume of 5,455,384. The firm has a market cap of $201.03 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $202.43 and a two-hundred day moving average of $187.12. General Electric has a 12-month low of $138.01 and a 12-month high of $214.21.
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 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%. Sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. General Electric's payout ratio is presently 24.04%.
Analyst Ratings Changes
A number of analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut 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. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note 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 research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.
Read Our Latest Stock Analysis on GE
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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