General Electric (NYSE:GE) Shares Sold by Sabal Trust CO

Sabal Trust CO decreased its position in shares of General Electric (NYSE:GE) by 3.0% during the 4th quarter, HoldingsChannel reports. The fund owned 9,182 shares of the conglomerate’s stock after selling 280 shares during the quarter. Sabal Trust CO’s holdings in General Electric were worth $1,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC increased its stake in shares of General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares during the period. Red Door Wealth Management LLC increased its stake in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares during the period. Saxon Interests Inc. grew its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after buying an additional 57 shares during the period. Old North State Wealth Management LLC grew its position in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after purchasing an additional 58 shares during the last quarter. Finally, Northeast Investment Management raised its holdings in General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock valued at $452,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company raised their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group increased 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. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Redburn Atlantic assumed coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Up 0.2 %

Shares of GE stock opened at $199.20 on Wednesday. The stock has a market cap of $213.80 billion, a P/E ratio of 33.25, a PEG ratio of 2.59 and a beta of 1.21. The company’s fifty day simple moving average is $187.90 and its two-hundred day simple moving average is $181.44. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $122.48 and a 52 week high of $212.19.

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

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a 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 24.04%.

General Electric Company 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.