GC Wealth Management RIA LLC Trims Stock Holdings in General Electric (NYSE:GE)

GC Wealth Management RIA LLC reduced its stake in General Electric (NYSE:GE) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,906 shares of the conglomerate’s stock after selling 63 shares during the quarter. GC Wealth Management RIA LLC’s holdings in General Electric were worth $485,000 at the end of the most recent quarter.

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

General Electric Price Performance

GE stock opened at $191.89 on Wednesday. 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 1 year low of $131.14 and a 1 year high of $212.19. The firm has a market cap of $205.95 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock has a 50-day simple moving average of $193.99 and a 200-day simple moving average of $183.50.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that General Electric will post 5.4 earnings per share for the current fiscal 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 dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.75%. General Electric’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.