General Electric (NYSE:GE) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in General Electric (NYSE:GE) by 3.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,050 shares of the conglomerate’s stock after selling 301 shares during the period. Kovack Advisors Inc.’s holdings in General Electric were worth $1,509,000 at the end of the most recent quarter.

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

General Electric Stock Up 1.2 %

Shares of GE opened at $201.56 on Thursday. The business’s fifty day moving average price is $188.73 and its two-hundred day moving average price is $181.58. The firm has a market capitalization of $216.34 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.59 and a beta of 1.21. General Electric has a 52 week low of $122.48 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.

General Electric (NYSE:GE) last released 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 return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. General Electric’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. Wells Fargo & Company upped their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their target price 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, Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.