Kimelman & Baird LLC Sells 2,424 Shares of General Electric (NYSE:GE)

Kimelman & Baird LLC decreased its stake in General Electric (NYSE:GE - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,325 shares of the conglomerate's stock after selling 2,424 shares during the quarter. Kimelman & Baird LLC's holdings in General Electric were worth $1,722,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Jennison Associates LLC raised its position in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp raised its position in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after purchasing an additional 115,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in General Electric by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate's stock worth $1,122,966,000 after purchasing an additional 202,233 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts recently issued reports on the company. 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. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating on the stock. Bank of America raised their price target on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.31.

General Electric Trading Up 0.0 %

Shares of NYSE GE traded up $0.06 during midday trading on Friday, reaching $203.99. 7,960,224 shares of the stock were exchanged, compared to its average volume of 5,375,022. The company has a market capitalization of $218.94 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a 50-day simple moving average of $197.98 and a two-hundred day simple moving average of $184.67.

General Electric (NYSE:GE - Get Free Report) last released its 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 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 year.

General Electric Increases Dividend

The company 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 $0.36 dividend. 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 0.71%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is currently 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.