General Electric (NYSE:GE) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of General Electric (NYSE:GE) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,146,272 shares of the conglomerate’s stock after selling 24,488 shares during the period. Alliancebernstein L.P.’s holdings in General Electric were worth $191,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric during the fourth quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric in the 4th quarter valued at approximately $795,000. State Street Corp increased its holdings in shares of 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 purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of General Electric by 269.8% during 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 during the last quarter. Finally, World Investment Advisors LLC lifted its holdings in shares of General Electric by 60.7% during 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 during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.9 %

NYSE GE opened at $203.90 on Wednesday. The firm has a market capitalization of $218.85 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.59 and a beta of 1.19. 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 has a one year low of $133.99 and a one year high of $214.21. The company’s 50 day moving average price is $202.20 and its 200 day moving average price is $187.04.

General Electric (NYSE:GE) last issued its 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, sell-side analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GE. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric 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.