Amalgamated Bank Sells 6,517 Shares of General Electric (NYSE:GE)

Amalgamated Bank lessened its stake in shares of General Electric (NYSE:GE) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 221,862 shares of the conglomerate’s stock after selling 6,517 shares during the period. Amalgamated Bank’s holdings in General Electric were worth $37,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Jennison Associates LLC raised its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC increased its stake in General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares during the last quarter. Franklin Resources Inc. increased its stake in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the last quarter. State Street Corp increased its stake in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock valued at $774,458,000 after buying an additional 457,038 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

GE opened at $198.68 on Tuesday. The company has a 50 day moving average of $187.23 and a 200 day moving average of $181.22. The company has a market cap of $213.24 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 12 month low of $122.48 and a 12 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.

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

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend 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 (DPR) is presently 24.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Redburn Atlantic assumed coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently 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.