Rhumbline Advisers Has $320.45 Million Position in General Electric (NYSE:GE)

Rhumbline Advisers cut its stake in General Electric (NYSE:GE) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,921,289 shares of the conglomerate’s stock after selling 27,664 shares during the period. Rhumbline Advisers owned approximately 0.18% of General Electric worth $320,452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GE. Creative Planning lifted its stake in General Electric by 9.0% during the third quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock worth $37,071,000 after purchasing an additional 16,258 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of General Electric by 5.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 15,664 shares of the conglomerate’s stock worth $2,954,000 after buying an additional 815 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of General Electric during the 3rd quarter worth $224,000. Naviter Wealth LLC acquired a new stake in General Electric in the third quarter valued at about $213,000. Finally, Global Retirement Partners LLC grew its position in General Electric by 9.1% in the third quarter. Global Retirement Partners LLC now owns 20,574 shares of the conglomerate’s stock valued at $3,880,000 after acquiring an additional 1,715 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.1 %

General Electric stock opened at $208.62 on Friday. The firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a 52-week low of $117.43 and a 52-week high of $211.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a 50 day moving average price of $182.00 and a two-hundred day moving average price of $178.98.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. Equities analysts predict that General Electric will post 5.39 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. General Electric’s payout ratio is presently 18.70%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GE. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.73.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

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.