Plancorp LLC cut its stake in shares of General Electric (NYSE:GE - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,819 shares of the conglomerate's stock after selling 1,321 shares during the quarter. Plancorp LLC's holdings in General Electric were worth $1,805,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hager Investment Management Services LLC purchased a new position in General Electric during the 4th quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter worth $30,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 74.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GE. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Redburn Atlantic initiated 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. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average target price of $211.31.
Check Out Our Latest Analysis on General Electric
General Electric Price Performance
NYSE GE traded up $1.59 during trading hours on Tuesday, reaching $211.82. The company's stock had a trading volume of 1,732,876 shares, compared to its average volume of 5,350,355. The firm has a market capitalization of $227.34 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19. The company's 50-day moving average is $199.41 and its two-hundred day moving average is $185.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.
General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts predict that General Electric will post 5.4 EPS for the current 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 issued 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 positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.
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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