General Electric (NYSE:GE) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners trimmed its stake in shares of General Electric (NYSE:GE) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,580 shares of the conglomerate’s stock after selling 297 shares during the quarter. Balboa Wealth Partners’ holdings in General Electric were worth $430,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GE. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the third quarter worth about $25,000. Hager Investment Management Services LLC purchased a new position in General Electric in the fourth quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the 4th quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Wells Fargo & Company upped 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. Bank of America raised their target price on 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. boosted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Price Performance

Shares of GE opened at $192.28 on Friday. 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 stock’s 50 day moving average is $195.04 and its two-hundred day moving average is $183.64. General Electric has a twelve month low of $131.91 and a twelve month high of $212.19. The firm has a market capitalization of $206.37 billion, a PE ratio of 32.10, a P/E/G ratio of 2.59 and a beta of 1.19.

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

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.75%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

General Electric 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.