Norden Group LLC Sells 22,187 Shares of General Electric (NYSE:GE)

Norden Group LLC cut its holdings in shares of General Electric (NYSE:GE) by 90.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,250 shares of the conglomerate’s stock after selling 22,187 shares during the quarter. Norden Group LLC’s holdings in General Electric were worth $375,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter valued at approximately $25,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the third quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Electric in the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of General Electric during the third quarter worth $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GE shares. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. 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 report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

General Electric stock opened at $198.82 on Wednesday. General Electric has a 12-month low of $125.26 and a 12-month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $191.44 and a 200-day moving average price of $182.63. The firm has a market capitalization of $213.39 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last announced 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 net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 24.04%.

About General Electric

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.