Baxter Bros Inc. Sells 150 Shares of General Electric (NYSE:GE)

Baxter Bros Inc. decreased its stake in General Electric (NYSE:GE) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,243 shares of the conglomerate’s stock after selling 150 shares during the period. General Electric accounts for about 1.0% of Baxter Bros Inc.’s holdings, making the stock its 28th biggest position. Baxter Bros Inc.’s holdings in General Electric were worth $7,379,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GE. Vanguard Group Inc. boosted its position in shares of General Electric by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the period. State Street Corp boosted its holdings in 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 acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC raised its stake in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after purchasing an additional 106,891 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after acquiring an additional 115,257 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 3.1 %

Shares of NYSE GE opened at $210.56 on Tuesday. The firm has a market cap of $225.99 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The firm’s 50 day moving average price is $199.41 and its 200 day moving average price is $185.47. General Electric has a 1 year low of $133.99 and a 1 year high of $212.19. 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 (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced 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. This represents a $1.44 dividend on an annualized basis and a yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is presently 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.