Harbour Investments Inc. Has $1.14 Million Position in General Electric (NYSE:GE)

Harbour Investments Inc. lessened its position in General Electric (NYSE:GE) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,819 shares of the conglomerate’s stock after selling 609 shares during the period. Harbour Investments Inc.’s holdings in General Electric were worth $1,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Hager Investment Management Services LLC bought a new position in General Electric during the 4th quarter worth $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric during the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in General Electric during the 3rd quarter worth $30,000. Finally, Picton Mahoney Asset Management raised its position in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several analyst reports. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company lifted their price objective 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 research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

Shares of General Electric stock opened at $200.74 on Wednesday. General Electric has a one year low of $133.99 and a one year high of $212.19. The firm has a market capitalization of $215.45 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.59 and a beta of 1.19. The business has a 50-day simple moving average of $196.70 and a 200 day simple moving average of $184.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

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

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

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.