Marietta Investment Partners LLC Sells 6,169 Shares of General Electric (NYSE:GE)

Marietta Investment Partners LLC lessened its position in General Electric (NYSE:GE) by 56.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,742 shares of the conglomerate’s stock after selling 6,169 shares during the quarter. Marietta Investment Partners LLC’s holdings in General Electric were worth $791,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC raised its holdings in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC raised its holdings in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of General Electric by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock worth $1,122,966,000 after purchasing an additional 202,233 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. Bank of America boosted 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. Northcoast Research initiated coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

NYSE:GE opened at $203.99 on Friday. The firm has a market cap 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. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $198.63 and its two-hundred day moving average price is $184.87.

General Electric (NYSE:GE) last released 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 net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend 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.