Cullen Capital Management LLC Sells 100 Shares of General Electric (NYSE:GE)

Cullen Capital Management LLC cut its holdings in shares of General Electric (NYSE:GE) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,451 shares of the conglomerate’s stock after selling 100 shares during the period. Cullen Capital Management LLC’s holdings in General Electric were worth $1,076,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. New Age Alpha Advisors LLC boosted its holdings in shares of General Electric by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in General Electric in the 4th quarter worth approximately $27,000. Sugar Maple Asset Management LLC bought a new stake in General Electric in the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Electric during the 4th quarter valued at $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after buying an additional 68 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE:GE opened at $166.76 on Friday. The stock has a 50-day moving average price of $201.56 and a 200 day moving average price of $187.07. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The stock has a market capitalization of $178.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. Equities research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company 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. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.73.

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.