General Electric (NYSE:GE) Shares Sold by Fagan Associates Inc.

Fagan Associates Inc. trimmed its holdings in shares of General Electric (NYSE:GE) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,560 shares of the conglomerate’s stock after selling 511 shares during the period. Fagan Associates Inc.’s holdings in General Electric were worth $927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cyndeo Wealth Partners LLC increased its holdings in shares of General Electric by 27.5% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 3,076 shares of the conglomerate’s stock worth $580,000 after acquiring an additional 664 shares during the period. OLD National Bancorp IN increased its holdings in shares of General Electric by 19.9% in the 3rd quarter. OLD National Bancorp IN now owns 3,294 shares of the conglomerate’s stock worth $621,000 after acquiring an additional 547 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter worth about $25,000. Whittier Trust Co. increased its holdings in shares of General Electric by 25.8% in the 3rd quarter. Whittier Trust Co. now owns 10,532 shares of the conglomerate’s stock worth $1,986,000 after acquiring an additional 2,161 shares during the period. Finally, Horst & Graben Wealth Management LLC acquired a new stake in shares of General Electric in the 3rd quarter worth about $226,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Citigroup increased their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

NYSE:GE opened at $209.94 on Wednesday. General Electric has a twelve month low of $118.13 and a twelve month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $184.18 and a 200-day moving average of $180.02. The firm has a market cap of $225.33 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Analysts forecast that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company 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 $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 dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.