Harvest Fund Management Co. Ltd cut its position in General Electric (NYSE:GE - Free Report) by 64.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,023 shares of the conglomerate's stock after selling 16,720 shares during the period. Harvest Fund Management Co. Ltd's holdings in General Electric were worth $1,505,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Wulff Hansen & CO. boosted its holdings in shares of General Electric by 12.3% in the 4th quarter. Wulff Hansen & CO. now owns 11,265 shares of the conglomerate's stock worth $1,879,000 after acquiring an additional 1,232 shares in the last quarter. Vinva Investment Management Ltd raised its position in General Electric by 52.3% in the 4th quarter. Vinva Investment Management Ltd now owns 31,019 shares of the conglomerate's stock valued at $5,214,000 after purchasing an additional 10,653 shares during the last quarter. Bank of Marin bought a new position in General Electric in the 4th quarter valued at $246,000. VSM Wealth Advisory LLC acquired a new position in General Electric in the fourth quarter worth $38,000. Finally, Xponance Inc. grew its holdings in shares of General Electric by 1.4% during the fourth quarter. Xponance Inc. now owns 176,264 shares of the conglomerate's stock worth $29,399,000 after purchasing an additional 2,490 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
General Electric Trading Up 3.1 %
GE traded up $6.43 during midday trading on Monday, reaching $210.56. 4,041,531 shares of the company were exchanged, compared to its average volume of 5,351,104. The stock has a market capitalization of $225.99 billion, a P/E ratio of 35.15, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a one year low of $133.99 and a one year high of $212.19. The stock's 50-day simple moving average is $198.63 and its 200 day simple moving average is $185.15. 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 released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.
General Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Finally, Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and an average price target of $211.31.
Check Out Our Latest Research Report on General Electric
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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