Norden Group LLC Cuts Stake in General Electric (NYSE:GE)

Norden Group LLC decreased its stake in shares of General Electric (NYSE:GE - Free Report) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,250 shares of the conglomerate's stock after selling 22,187 shares during the quarter. Norden Group LLC's holdings in General Electric were worth $375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in shares of General Electric in the third quarter valued at $25,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric in the 4th quarter worth $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at about $30,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating on the stock. Three 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, General Electric presently has a consensus rating of "Moderate Buy" and an average price target of $211.31.

General Electric Trading Up 1.9 %

GE traded up $3.84 during trading on Wednesday, hitting $202.61. 6,219,857 shares of the stock were exchanged, compared to its average volume of 5,314,766. General Electric has a 1 year low of $126.78 and a 1 year high of $212.19. The firm has a market cap of $217.46 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 2.59 and a beta of 1.19. The firm has a 50 day simple moving average of $192.06 and a 200 day simple moving average of $182.77. 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 announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. As a group, equities analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is presently 24.04%.

General Electric Company 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.