Great Lakes Advisors LLC Sells 5,714 Shares of General Electric (NYSE:GE)

Great Lakes Advisors LLC lowered its stake in shares of General Electric (NYSE:GE - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,365 shares of the conglomerate's stock after selling 5,714 shares during the quarter. Great Lakes Advisors LLC's holdings in General Electric were worth $32,251,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC raised its holdings in General Electric by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock worth $39,000 after buying an additional 49 shares during the period. Blue Barn Wealth LLC boosted its position in General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock worth $245,000 after purchasing an additional 54 shares during the period. Game Plan Financial Advisors LLC increased its holdings in shares of General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock worth $96,000 after purchasing an additional 55 shares during the period. Red Door Wealth Management LLC increased its holdings in shares of General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock worth $241,000 after purchasing an additional 56 shares during the period. Finally, WR Wealth Planners LLC boosted its position in shares of General Electric by 30.6% during the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate's stock worth $40,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup boosted their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has an average rating of "Moderate Buy" and a consensus price target of $211.31.

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General Electric Stock Performance

Shares of General Electric stock opened at $191.89 on Wednesday. General Electric has a 52 week low of $131.14 and a 52 week high of $212.19. 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 market capitalization of $205.95 billion, a P/E ratio of 32.03, a PEG ratio of 2.59 and a beta of 1.19. The company has a 50 day moving average price of $193.99 and a 200 day moving average price of $183.50.

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, 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%. Sell-side analysts expect 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. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, March 10th. General Electric's payout ratio is 24.04%.

General Electric 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.

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