Independent Investors Inc. reduced its stake in shares of General Electric (NYSE:GE – Get Rating) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,571 shares of the conglomerate’s stock after selling 1,224 shares during the period. Independent Investors Inc.’s holdings in General Electric were worth $383,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Addenda Capital Inc. bought a new position in shares of General Electric in the fourth quarter worth about $26,000. MADDEN SECURITIES Corp bought a new position in shares of General Electric in the fourth quarter worth about $28,000. Standard Family Office LLC bought a new position in shares of General Electric in the third quarter worth about $29,000. RE Dickinson Investment Advisors LLC increased its stake in shares of General Electric by 37.5% in the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 130 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares during the period. 70.12% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GE. JPMorgan Chase & Co. lifted their price objective on General Electric from $88.00 to $100.00 in a research note on Friday, March 10th. Jefferies Financial Group upgraded General Electric from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday. StockNews.com started coverage on General Electric in a research note on Friday, March 10th. They issued a “buy” rating on the stock. Bank of America lifted their target price on General Electric from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Finally, UBS Group lifted their target price on General Electric from $95.00 to $109.00 in a research report on Thursday, April 13th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.53.
General Electric Price Performance
NYSE GE traded up $0.55 during trading on Thursday, reaching $99.58. 2,883,019 shares of the company traded hands, compared to its average volume of 7,812,393. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 1.16. The stock’s 50 day moving average price is $89.59 and its two-hundred day moving average price is $82.82. The company has a market cap of $108.57 billion, a price-to-earnings ratio of -3,301.00, a P/E/G ratio of 6.95 and a beta of 1.27. General Electric has a 1-year low of $46.55 and a 1-year high of $100.47.
General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The company had revenue of $21.79 billion for the quarter, compared to the consensus estimate of $22.11 billion. General Electric had a return on equity of 8.47% and a net margin of 0.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. As a group, analysts anticipate that General Electric will post 1.99 EPS for the current year.
General Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s payout ratio is currently -1,066.67%.
About General Electric
General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.