Whittier Trust Co. of Nevada Inc. Cuts Stake in General Electric (NYSE:GE)

Whittier Trust Co. of Nevada Inc. lessened its stake in shares of General Electric (NYSE:GE) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,549 shares of the conglomerate’s stock after selling 185 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in General Electric were worth $6,263,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC bought a new position in shares of General Electric during the 4th quarter worth $733,000. Chung Wu Investment Group LLC purchased a new stake in General Electric during the fourth quarter valued at about $795,000. State Street Corp boosted its position in General Electric by 2.1% during the third 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. Soltis Investment Advisors LLC increased its stake in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC raised its position in shares of General Electric by 60.7% in the third 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 during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 0.0 %

Shares of NYSE:GE opened at $203.99 on Friday. The firm has a market capitalization of $218.94 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 $133.99 and a 52-week high of $212.19. The firm has a fifty day moving average of $198.63 and a 200 day moving average of $184.87.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, research analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid 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 dividend yield of 0.71%. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.