Balboa Wealth Partners Decreases Position in General Electric (NYSE:GE)

Balboa Wealth Partners lowered its position in General Electric (NYSE:GE) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,580 shares of the conglomerate’s stock after selling 297 shares during the quarter. Balboa Wealth Partners’ holdings in General Electric were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GE. Nations Financial Group Inc. IA ADV lifted its stake in General Electric by 14.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,305 shares of the conglomerate’s stock valued at $435,000 after buying an additional 287 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of General Electric in the third quarter valued at $460,000. Aptus Capital Advisors LLC boosted its stake in shares of General Electric by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 11,707 shares of the conglomerate’s stock valued at $2,208,000 after acquiring an additional 1,517 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of General Electric by 7.9% during the third quarter. Pinnacle Financial Partners Inc now owns 6,978 shares of the conglomerate’s stock valued at $1,316,000 after acquiring an additional 510 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in General Electric by 14.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock worth $757,000 after purchasing an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GE. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup raised their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Down 1.4 %

NYSE:GE opened at $192.28 on Friday. The business’s 50-day moving average is $195.04 and its two-hundred day moving average is $183.64. The firm has a market capitalization of $206.37 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $131.91 and a 12 month high of $212.19. 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 earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Research analysts predict 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 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio (DPR) 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.