WESPAC Advisors LLC Sells 79 Shares of General Electric (NYSE:GE)

WESPAC Advisors LLC decreased its position in General Electric (NYSE:GE) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,299 shares of the conglomerate’s stock after selling 79 shares during the quarter. WESPAC Advisors LLC’s holdings in General Electric were worth $717,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in shares of 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 during the period. Geode Capital Management LLC grew its stake in shares of General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Jennison Associates LLC grew its stake in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of General Electric by 12.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after acquiring an additional 457,038 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 4.2 %

Shares of NYSE:GE opened at $199.90 on Friday. General Electric has a 52 week low of $119.88 and a 52 week high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company’s fifty day moving average is $186.57 and its 200-day moving average is $180.85. The company has a market capitalization 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 earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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 predict that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 18.70%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group raised their price objective 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. Finally, Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.