United Services Automobile Association Cuts Position in General Electric (NYSE:GE)

United Services Automobile Association reduced its stake in shares of General Electric (NYSE:GE) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 25,483 shares of the conglomerate’s stock after selling 250 shares during the period. United Services Automobile Association’s holdings in General Electric were worth $4,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GE. Congress Wealth Management LLC DE lifted its position in shares of General Electric by 7.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,826 shares of the conglomerate’s stock valued at $1,472,000 after buying an additional 591 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in General Electric during the fourth quarter valued at approximately $96,000. Vanguard Group Inc. lifted its position in General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. Napatree Capital LLC boosted its stake in General Electric by 4.2% in the fourth quarter. Napatree Capital LLC now owns 2,003 shares of the conglomerate’s stock valued at $334,000 after acquiring an additional 80 shares in the last quarter. Finally, Stevens Capital Management LP grew its holdings in General Electric by 53.2% in the fourth quarter. Stevens Capital Management LP now owns 4,162 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 1,446 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GE shares. Wells Fargo & Company increased 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 target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup increased their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 0.0 %

General Electric stock opened at $203.99 on Monday. General Electric has a 52 week low of $133.99 and a 52 week high of $212.19. The firm has a market cap of $218.94 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The business’s 50-day moving average price is $198.63 and its 200 day moving average price is $185.15. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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 earnings per share for the current year.

General Electric Increases Dividend

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