Crestwood Advisors Group LLC Sells 841 Shares of General Electric (NYSE:GE)

Crestwood Advisors Group LLC lowered its holdings in General Electric (NYSE:GE) by 6.5% in the 4th quarter, HoldingsChannel reports. The firm owned 12,064 shares of the conglomerate’s stock after selling 841 shares during the quarter. Crestwood Advisors Group LLC’s holdings in General Electric were worth $2,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GE. Hennion & Walsh Asset Management Inc. raised its stake in General Electric by 69.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock worth $822,000 after buying an additional 1,790 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in General Electric by 0.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock valued at $5,784,000 after acquiring an additional 209 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of General Electric by 2.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock valued at $1,136,000 after acquiring an additional 140 shares during the period. NorthCrest Asset Manangement LLC raised its position in shares of General Electric by 65.9% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock worth $394,000 after acquiring an additional 830 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of General Electric by 9.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $198.68 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a fifty day moving average of $187.23 and a 200 day moving average of $181.22. The firm has a market capitalization of $213.24 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a 1 year low of $122.48 and a 1 year high of $212.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued 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 0.72%. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.