Oppenheimer & Co. Inc. Sells 2,805 Shares of General Electric (NYSE:GE)

Oppenheimer & Co. Inc. cut its position in General Electric (NYSE:GE) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,878 shares of the conglomerate’s stock after selling 2,805 shares during the period. Oppenheimer & Co. Inc.’s holdings in General Electric were worth $10,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at approximately $25,000. Hager Investment Management Services LLC bought a new position in General Electric in the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the third quarter valued at approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric during the third quarter worth $30,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, January 2nd. Bank of America boosted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company boosted their target price 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, UBS Group raised 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. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Down 0.1 %

General Electric stock opened at $201.40 on Friday. General Electric has a fifty-two week low of $123.06 and a fifty-two week high of $212.19. The firm has a market capitalization of $216.17 billion, a PE ratio of 33.62, a P/E/G ratio of 2.59 and a beta of 1.21. The company’s 50-day moving average is $189.46 and its 200-day moving average is $181.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Sell-side analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently declared 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 an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

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.