Gulf International Bank UK Ltd Sells 962 Shares of General Electric (NYSE:GE)

Gulf International Bank UK Ltd cut its stake in General Electric (NYSE:GE) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,908 shares of the conglomerate’s stock after selling 962 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Electric were worth $14,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. Hager Investment Management Services LLC bought a new position in General Electric during the 4th quarter worth $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the 3rd quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE:GE opened at $201.56 on Thursday. 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 has a 52-week low of $122.48 and a 52-week high of $212.19. The firm has a market cap of $216.34 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.59 and a beta of 1.21. The business’s fifty day moving average is $188.73 and its 200 day moving average is $181.58.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Research analysts predict 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. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. 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 on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America raised 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. Finally, Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.31.

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.