LGT Group Foundation Has $7.48 Million Stock Holdings in General Electric (NYSE:GE)

LGT Group Foundation cut its stake in General Electric (NYSE:GE) by 9.8% during the fourth quarter, HoldingsChannel reports. The fund owned 44,843 shares of the conglomerate’s stock after selling 4,899 shares during the quarter. LGT Group Foundation’s holdings in General Electric were worth $7,479,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC boosted its holdings in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC bought a new stake in General Electric in the fourth quarter worth $733,000. 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 worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in 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 boosted its holdings in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 2.9 %

NYSE GE opened at $207.22 on Monday. General Electric has a twelve month low of $124.08 and a twelve month 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. The stock has a market cap of $222.40 billion, a PE ratio of 34.59, a PEG ratio of 2.59 and a beta of 1.22. The firm has a 50-day simple moving average of $190.24 and a 200 day simple moving average of $182.20.

General Electric (NYSE:GE) last posted its quarterly earnings results 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%. On average, research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent research reports. Bank of America upped their price objective 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. Citigroup upped 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company upped their price target on shares of 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 initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

About General Electric

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.