General Electric (NYSE:GE) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,412 shares of the conglomerate’s stock after selling 11,308 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Electric were worth $8,075,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position 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 valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC boosted its position in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC boosted its position 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. Bank of New York Mellon Corp boosted its position 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 valued at $1,128,571,000 after purchasing an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of General Electric by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock valued at $1,122,966,000 after purchasing an additional 202,233 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

Shares of GE stock opened at $202.23 on Tuesday. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19. The company has a market cap of $217.06 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock has a 50 day simple moving average of $196.14 and a 200-day simple moving average of $184.20. 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 (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) 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.