Peregrine Asset Advisers Inc. Sells 24,814 Shares of General Electric (NYSE:GE)

Peregrine Asset Advisers Inc. lessened its holdings in shares of General Electric (NYSE:GE - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,391 shares of the conglomerate's stock after selling 24,814 shares during the period. Peregrine Asset Advisers Inc.'s holdings in General Electric were worth $899,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GE. Jennison Associates LLC increased its stake in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock worth $359,882,000 after buying an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock worth $278,247,000 after buying an additional 973,135 shares during the last quarter. State Street Corp boosted its stake in 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 buying an additional 898,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock worth $774,458,000 after acquiring an additional 457,038 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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General Electric Stock Down 0.3 %

NYSE GE traded down $0.65 during trading hours on Tuesday, hitting $198.07. The company's stock had a trading volume of 2,171,832 shares, compared to its average volume of 5,295,971. The company has a market capitalization of $212.58 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $122.48 and a 52 week high of $212.19. The company's 50-day simple moving average is $187.23 and its two-hundred day simple moving average is $181.22.

General Electric (NYSE:GE - Get Free Report) last announced its 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 net margin of 14.31% and a return on equity of 22.19%. Research analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed 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. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GE. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report 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 objective for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.

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.