First Horizon Advisors Inc. Sells 70 Shares of General Electric (NYSE:GE)

First Horizon Advisors Inc. trimmed its position in General Electric (NYSE:GE) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,540 shares of the conglomerate’s stock after selling 70 shares during the period. First Horizon Advisors Inc.’s holdings in General Electric were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC boosted its stake in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric during the 4th quarter valued at $733,000. State Street Corp grew its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC increased its position in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the period. Finally, World Investment Advisors LLC raised its stake in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

NYSE:GE 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. General Electric has a one year low of $122.48 and a one year high of $212.19. The firm’s 50 day simple moving average is $187.23 and its 200 day simple moving average is $181.22. The company has a market cap of $213.24 billion, a PE ratio of 33.17, a P/E/G 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%. On average, research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost 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 presently 18.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup increased 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. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. UBS Group boosted their price objective 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. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. 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, the stock currently has an average rating of “Moderate Buy” and an average price target 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.