General Electric (NYSE:GE) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC trimmed its holdings in General Electric (NYSE:GE) by 29.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,278 shares of the conglomerate’s stock after selling 525 shares during the quarter. Aviance Capital Partners LLC’s holdings in General Electric were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at $25,000. Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in General Electric in the third quarter valued at $30,000. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter valued at $27,000. Finally, Costello Asset Management INC increased its stake in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GE. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” 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 set a “buy” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. boosted 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, Wells Fargo & Company boosted their price target 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Down 1.0 %

Shares of GE opened at $194.08 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’s 50-day moving average is $193.02 and its two-hundred day moving average is $183.02. General Electric has a twelve month low of $130.38 and a twelve month high of $212.19. The firm has a market capitalization of $208.31 billion, a P/E ratio of 32.40, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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, research analysts predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm 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 dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

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.