Meridian Investment Counsel Inc. Sells 1,750 Shares of General Electric (NYSE:GE)

Meridian Investment Counsel Inc. lowered its stake in shares of General Electric (NYSE:GE) by 14.4% during the fourth quarter, HoldingsChannel reports. The fund owned 10,425 shares of the conglomerate’s stock after selling 1,750 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in General Electric were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in GE. New Age Alpha Advisors LLC boosted its position in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management raised its holdings in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock opened at $199.66 on Monday. The stock has a market capitalization of $214.29 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a fifty day moving average of $201.52 and a 200-day moving average of $186.64. 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 has a 52-week low of $133.99 and a 52-week high of $214.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. Equities research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.