Cynosure Group LLC Decreases Stock Position in General Electric (NYSE:GE)

Cynosure Group LLC reduced its position in General Electric (NYSE:GE) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,931 shares of the conglomerate’s stock after selling 439 shares during the period. General Electric makes up about 1.8% of Cynosure Group LLC’s holdings, making the stock its 13th biggest holding. Cynosure Group LLC’s holdings in General Electric were worth $11,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in General Electric during the 4th quarter worth approximately $2,375,439,000. Janus Henderson Group PLC lifted its stake in General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the last quarter. Raymond James Financial Inc. acquired a new position in General Electric in the fourth quarter worth $194,208,000. Franklin Resources Inc. increased its stake in General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the last quarter. Finally, State Street Corp raised its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. lifted 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. Finally, Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

Shares of NYSE GE opened at $203.90 on Wednesday. The stock has a market capitalization of $218.85 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $214.21. The stock has a 50 day moving average price of $202.20 and a 200 day moving average price of $187.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. 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.