Smithfield Trust Co cut its stake in General Electric (NYSE:GE - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,122 shares of the conglomerate's stock after selling 1,340 shares during the period. Smithfield Trust Co's holdings in General Electric were worth $3,524,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC boosted its holdings in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after acquiring an additional 55 shares during the period. Red Door Wealth Management LLC raised its position in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock worth $241,000 after buying an additional 56 shares in the last quarter. WR Wealth Planners LLC raised its position in shares of General Electric by 30.6% in the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate's stock worth $40,000 after buying an additional 56 shares in the last quarter. Saxon Interests Inc. raised its position in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock worth $238,000 after buying an additional 57 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its position in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate's stock worth $331,000 after buying an additional 58 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.
General Electric Trading Down 1.0 %
Shares of GE traded down $1.97 during trading hours on Friday, hitting $194.08. The company had a trading volume of 7,681,174 shares, compared to its average volume of 5,375,542. The firm has a market cap of $208.31 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19. The stock's 50 day moving average price is $193.02 and its 200 day moving average price is $183.02. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52-week low of $130.38 and a 52-week high of $212.19.
General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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, research analysts predict that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 24.04%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Finally, Citigroup raised their price target on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $211.31.
Get Our Latest Analysis on GE
About General Electric
(
Free Report)
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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