1ST Source Bank Trims Stake in General Electric (NYSE:GE)

1ST Source Bank reduced its stake in shares of General Electric (NYSE:GE) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 10,596 shares of the conglomerate’s stock after selling 55 shares during the period. 1ST Source Bank’s holdings in General Electric were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the third quarter valued at approximately $30,000. Hager Investment Management Services LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of General Electric stock opened at $197.39 on Monday. General Electric has a one year low of $131.91 and a one year high of $212.19. The company has a market cap of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business’s 50 day moving average price is $195.54 and its 200 day moving average price is $184.00.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. On average, research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm 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 $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Northcoast Research began coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.