Callan Capital LLC Sells 83 Shares of General Electric (NYSE:GE)

Callan Capital LLC cut its stake in shares of General Electric (NYSE:GE) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,515 shares of the conglomerate’s stock after selling 83 shares during the quarter. Callan Capital LLC’s holdings in General Electric were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter valued at about $27,000. Hager Investment Management Services LLC bought a new position in shares of General Electric during the 4th quarter valued at about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the 3rd quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Electric in the 4th quarter valued at about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

NYSE:GE opened at $199.90 on Friday. 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 firm has a 50-day moving average price of $186.57 and a two-hundred day moving average price of $180.85. General Electric has a twelve month low of $119.88 and a twelve month high of $212.19. The company has a market capitalization of $214.55 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal 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 paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 18.70%.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Citigroup lifted their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

About General Electric

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.