Denver PWM LLC Cuts Stock Position in General Electric (NYSE:GE)

Denver PWM LLC cut its holdings in shares of General Electric (NYSE:GE) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682 shares of the conglomerate’s stock after selling 168 shares during the period. Denver PWM LLC’s holdings in General Electric were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GE. Catalyst Capital Advisors LLC increased its stake in shares of General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares during the period. Johnson & White Wealth Management LLC acquired a new position in General Electric in the fourth quarter valued at approximately $733,000. State Street Corp boosted its holdings in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC boosted its holdings in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GE. JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $199.90 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a fifty day moving average price of $186.57 and a 200 day moving average price of $180.85. General Electric has a 1-year low of $119.88 and a 1-year high of $212.19. The company has a market cap of $214.55 billion, a PE ratio of 33.37, a P/E/G ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.72%. General Electric’s dividend payout ratio is presently 18.70%.

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.