General Electric (NYSE:GE) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its stake in General Electric (NYSE:GE) by 1.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,481 shares of the conglomerate’s stock after selling 131 shares during the quarter. Wrapmanager Inc.’s holdings in General Electric were worth $1,415,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its position in General Electric by 69.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock valued at $822,000 after acquiring an additional 1,790 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of General Electric by 0.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock worth $5,784,000 after purchasing an additional 209 shares during the period. Arkadios Wealth Advisors increased its position in General Electric by 2.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock worth $1,136,000 after purchasing an additional 140 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in General Electric by 65.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock valued at $394,000 after buying an additional 830 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in General Electric by 9.3% during the third quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate’s stock valued at $240,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $198.68 on Tuesday. The business has a 50 day simple moving average of $187.23 and a 200-day simple moving average of $181.22. General Electric has a twelve month low of $122.48 and a twelve month high of $212.19. The company has a market capitalization of $213.24 billion, a price-to-earnings ratio of 33.17, 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 (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. 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.