General Electric (NYSE:GE) Shares Sold by Alerus Financial NA

Alerus Financial NA reduced its position in shares of General Electric (NYSE:GE) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,575 shares of the conglomerate’s stock after selling 2,622 shares during the period. Alerus Financial NA’s holdings in General Electric were worth $6,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in General Electric in the third quarter valued at approximately $618,000. Truvestments Capital LLC acquired a new stake in shares of General Electric in the 3rd quarter worth approximately $35,000. D.A. Davidson & CO. boosted its holdings in General Electric by 2.6% during the third quarter. D.A. Davidson & CO. now owns 35,280 shares of the conglomerate’s stock worth $6,653,000 after buying an additional 893 shares in the last quarter. Townsquare Capital LLC increased its position in shares of General Electric by 84.3% in the third quarter. Townsquare Capital LLC now owns 55,601 shares of the conglomerate’s stock worth $10,485,000 after acquiring an additional 25,433 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of General Electric by 1.1% in the third quarter. Glenmede Trust Co. NA now owns 93,751 shares of the conglomerate’s stock worth $17,680,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $206.11 on Friday. The stock’s fifty day moving average price is $201.18 and its 200-day moving average price is $186.12. The company has a market cap of $221.21 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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 forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm 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 $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.70%. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GE. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.