ProVise Management Group LLC Sells 463 Shares of General Electric (NYSE:GE)

ProVise Management Group LLC lowered its position in shares of General Electric (NYSE:GE) by 19.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,969 shares of the conglomerate’s stock after selling 463 shares during the period. ProVise Management Group LLC’s holdings in General Electric were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter worth about $30,000. Hager Investment Management Services LLC acquired a new position in General Electric during the 4th quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new position in General Electric during the 4th quarter worth about $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric during the 4th quarter worth about $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $205.67 on Thursday. 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 has a 50-day simple moving average of $197.36 and a 200 day simple moving average of $184.53. The firm has a market capitalization of $220.75 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a one year low of $133.99 and a one year high of $212.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. On average, research analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GE shares. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $211.31.

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.