Cullen Capital Management LLC Cuts Stock Position in General Electric (NYSE:GE)

Cullen Capital Management LLC lessened its holdings in General Electric (NYSE:GE) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,451 shares of the conglomerate’s stock after selling 100 shares during the period. Cullen Capital Management LLC’s holdings in General Electric were worth $1,076,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GE. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new position in General Electric in the fourth quarter worth about $795,000. Soltis Investment Advisors LLC increased its stake in General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after acquiring an additional 20,575 shares during the last quarter. National Bank of Canada FI raised its position in General Electric by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. Finally, World Investment Advisors LLC lifted its stake in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 5,162 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $166.76 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $178.98 billion, a PE ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a 50 day moving average price of $201.56 and a 200-day moving average price of $187.07. General Electric has a fifty-two week low of $146.78 and a fifty-two week high of $214.21.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. As a group, equities analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm 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 $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. General Electric’s dividend payout ratio is 24.04%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. 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 report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $214.73.

General Electric 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.