Great Lakes Advisors LLC Cuts Stock Position in General Electric (NYSE:GE)

Great Lakes Advisors LLC decreased its holdings in General Electric (NYSE:GE) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 193,365 shares of the conglomerate’s stock after selling 5,714 shares during the quarter. Great Lakes Advisors LLC’s holdings in General Electric were worth $32,251,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GE. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at $733,000. State Street Corp raised its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Chung Wu Investment Group LLC purchased a new stake in shares of General Electric during the 4th quarter valued at about $795,000. Soltis Investment Advisors LLC grew its stake in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.1 %

Shares of GE stock opened at $191.89 on Wednesday. The stock has a 50 day simple moving average of $193.99 and a 200 day simple moving average of $183.50. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 1 year low of $131.14 and a 1 year high of $212.19. The stock 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.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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, research 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. 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. Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric 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.