Twin Tree Management LP Sells 387,941 Shares of General Electric (NYSE:GE)

Twin Tree Management LP reduced its stake in shares of General Electric (NYSE:GE) by 91.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,259 shares of the conglomerate’s stock after selling 387,941 shares during the quarter. Twin Tree Management LP’s holdings in General Electric were worth $6,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GWN Securities Inc. bought a new position in shares of General Electric in the fourth quarter valued at approximately $1,084,000. Glenview Trust co raised its position in General Electric by 1.9% in the 4th quarter. Glenview Trust co now owns 11,750 shares of the conglomerate’s stock valued at $1,960,000 after purchasing an additional 214 shares during the last quarter. Patten & Patten Inc. TN boosted its stake in General Electric by 1.7% in the fourth quarter. Patten & Patten Inc. TN now owns 12,731 shares of the conglomerate’s stock worth $2,123,000 after purchasing an additional 211 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of General Electric by 2.7% during the fourth quarter. Corient Private Wealth LLC now owns 234,948 shares of the conglomerate’s stock worth $38,499,000 after purchasing an additional 6,199 shares during the last quarter. Finally, Ascent Capital Management LLC acquired a new stake in shares of General Electric in the fourth quarter valued at $365,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Up 2.6 %

General Electric stock opened at $202.23 on Tuesday. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $217.06 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19. The company’s 50 day simple moving average is $196.14 and its 200 day simple moving average is $184.20.

General Electric (NYSE:GE) last announced its quarterly 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 net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

Analyst Ratings Changes

A number of equities research analysts have commented on GE shares. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased 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. Finally, Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.