Dorsey Wright & Associates Sells 163 Shares of General Electric (NYSE:GE)

Dorsey Wright & Associates cut its stake in shares of General Electric (NYSE:GE) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 11,947 shares of the conglomerate’s stock after selling 163 shares during the quarter. Dorsey Wright & Associates’ holdings in General Electric were worth $1,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GE. Vanguard Group Inc. lifted its holdings in General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. State Street Corp lifted its holdings in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the period. Norges Bank acquired a new position in shares of General Electric in the fourth quarter valued at about $2,375,439,000. Finally, Jennison Associates LLC increased its position in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of General Electric stock opened at $199.66 on Friday. The company’s 50 day moving average price is $201.52 and its two-hundred day moving average price is $186.50. The firm has a market capitalization of $214.29 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $214.21. 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 data 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 return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two equities research 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 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.