Good Life Advisors LLC Lowers Holdings in General Electric (NYSE:GE)

Good Life Advisors LLC lowered its holdings in General Electric (NYSE:GE) by 48.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,062 shares of the conglomerate’s stock after selling 7,674 shares during the quarter. Good Life Advisors LLC’s holdings in General Electric were worth $1,345,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GE. Jennison Associates LLC grew its stake in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC grew its position in General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC increased 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 period. Franklin Resources Inc. lifted its position in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on GE. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

Shares of GE opened at $210.28 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 1-year low of $118.13 and a 1-year high of $212.19. The stock has a market cap of $225.69 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The firm has a fifty day moving average price of $185.01 and a 200 day moving average price of $180.23.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.