General Electric (NYSE:GE) Stock Position Lowered by Smithfield Trust Co

Smithfield Trust Co lowered its position in shares of General Electric (NYSE:GE) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,122 shares of the conglomerate’s stock after selling 1,340 shares during the quarter. Smithfield Trust Co’s holdings in General Electric were worth $3,524,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC boosted its position in shares of General Electric by 42.3% during the 4th quarter. NewSquare Capital LLC now owns 552 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 164 shares in the last quarter. Snider Financial Group lifted its stake in General Electric by 30.2% during the fourth quarter. Snider Financial Group now owns 3,995 shares of the conglomerate’s stock valued at $666,000 after purchasing an additional 926 shares during the last quarter. Keybank National Association OH boosted its holdings in General Electric by 6.2% during the fourth quarter. Keybank National Association OH now owns 49,904 shares of the conglomerate’s stock worth $8,323,000 after buying an additional 2,915 shares in the last quarter. Disciplined Investments LLC bought a new stake in General Electric during the fourth quarter worth approximately $201,000. Finally, Horan Capital Advisors LLC. acquired a new position in General Electric in the fourth quarter worth approximately $215,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 1.6 %

General Electric stock opened at $198.82 on Wednesday. General Electric has a 12 month low of $125.26 and a 12 month high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $213.39 billion, a P/E ratio of 33.19, a P/E/G ratio of 2.59 and a beta of 1.22. The company’s fifty day simple moving average is $191.44 and its 200-day simple moving average is $182.63.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given 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 (DPR) is presently 24.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective 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, 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 report on Monday, January 27th. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.