Peregrine Asset Advisers Inc. Has $899,000 Stock Position in General Electric (NYSE:GE)

Peregrine Asset Advisers Inc. cut its holdings in General Electric (NYSE:GE) by 82.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,391 shares of the conglomerate’s stock after selling 24,814 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in General Electric were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the third quarter worth approximately $27,000. Hager Investment Management Services LLC bought a new position in General Electric in the fourth quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $29,000. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, 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 report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

Shares of NYSE:GE opened at $199.90 on Friday. The company has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22. The company’s 50-day moving average is $186.57 and its 200 day moving average is $180.72. 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 fifty-two week low of $119.88 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 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, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 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.