Hollencrest Capital Management Decreases Stake in General Electric (NYSE:GE)

Hollencrest Capital Management reduced its position in General Electric (NYSE:GE) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,679 shares of the conglomerate’s stock after selling 740 shares during the period. Hollencrest Capital Management’s holdings in General Electric were worth $1,614,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GE. Atria Investments Inc raised its position in General Electric by 15.7% during the third quarter. Atria Investments Inc now owns 23,407 shares of the conglomerate’s stock valued at $4,414,000 after purchasing an additional 3,179 shares during the period. Axxcess Wealth Management LLC raised its position in General Electric by 41.8% during the third quarter. Axxcess Wealth Management LLC now owns 12,443 shares of the conglomerate’s stock valued at $2,347,000 after purchasing an additional 3,671 shares during the period. Legacy Capital Wealth Partners LLC purchased a new stake in General Electric during the third quarter valued at approximately $210,000. Tyler Stone Wealth Management raised its position in General Electric by 116.8% during the third quarter. Tyler Stone Wealth Management now owns 1,316 shares of the conglomerate’s stock valued at $248,000 after purchasing an additional 709 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in General Electric during the third quarter valued at approximately $165,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Down 0.1 %

Shares of NYSE GE opened at $191.89 on Wednesday. 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 stock has a market capitalization of $205.95 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock’s fifty day simple moving average is $193.99 and its two-hundred day simple moving average is $183.50. General Electric has a 12-month low of $131.14 and a 12-month high of $212.19.

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

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 0.75%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. 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 report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.