General Electric (NYSE:GE) Position Reduced by Cable Hill Partners LLC

Cable Hill Partners LLC trimmed its stake in shares of General Electric (NYSE:GE) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,436 shares of the conglomerate’s stock after selling 248 shares during the quarter. Cable Hill Partners LLC’s holdings in General Electric were worth $240,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GE. Assenagon Asset Management S.A. boosted its stake in General Electric by 0.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock valued at $5,784,000 after acquiring an additional 209 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of General Electric by 22.8% in the 3rd quarter. Pallas Capital Advisors LLC now owns 7,682 shares of the conglomerate’s stock worth $1,381,000 after buying an additional 1,425 shares during the last quarter. Traynor Capital Management Inc. lifted its position in shares of General Electric by 18.3% in the 3rd quarter. Traynor Capital Management Inc. now owns 1,903 shares of the conglomerate’s stock worth $359,000 after buying an additional 295 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of General Electric in the 3rd quarter worth about $743,000. Finally, Gateway Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter worth about $208,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 1.2 %

General Electric stock opened at $201.56 on Thursday. The stock has a market cap of $216.34 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.59 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $188.73 and its two-hundred day moving average price is $181.58. General Electric has a 52 week low of $122.48 and a 52 week high of $212.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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%. On average, analysts expect that General Electric will post 5.4 EPS 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. Stockholders of record on Monday, March 10th will be given 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%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GE shares. Bank of America raised their price target 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. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.