PFG Advisors Sells 166 Shares of General Electric (NYSE:GE)

PFG Advisors trimmed its position in shares of General Electric (NYSE:GE) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,861 shares of the conglomerate’s stock after selling 166 shares during the period. PFG Advisors’ holdings in General Electric were worth $978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GE. Nations Financial Group Inc. IA ADV raised its stake in shares of General Electric by 14.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 2,305 shares of the conglomerate’s stock valued at $435,000 after acquiring an additional 287 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of General Electric during the third quarter valued at about $460,000. Aptus Capital Advisors LLC raised its stake in shares of General Electric by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 11,707 shares of the conglomerate’s stock valued at $2,208,000 after acquiring an additional 1,517 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in General Electric by 7.9% in the third quarter. Pinnacle Financial Partners Inc now owns 6,978 shares of the conglomerate’s stock worth $1,316,000 after buying an additional 510 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock worth $757,000 after buying an additional 513 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Trading Down 1.4 %

NYSE:GE opened at $192.28 on Friday. The company’s 50 day moving average price is $195.04 and its 200-day moving average price is $183.64. General Electric has a 52 week low of $131.91 and a 52 week high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $206.37 billion, a price-to-earnings ratio of 32.10, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business 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 $0.36 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.75%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.