General Electric (NYSE:GE) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of General Electric (NYSE:GE) by 18.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 48,412 shares of the conglomerate’s stock after selling 11,308 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in General Electric were worth $8,075,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the third quarter worth $30,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GE. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Up 2.6 %

NYSE:GE opened at $202.23 on Tuesday. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The firm has a market capitalization of $217.06 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. 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 business’s 50-day moving average is $196.14 and its two-hundred day moving average is $184.20.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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 predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.71%. General Electric’s payout ratio is presently 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.