General Electric (NYSE:GE) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its position in shares of General Electric (NYSE:GE) by 23.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,737 shares of the conglomerate’s stock after selling 2,039 shares during the period. ARK Investment Management LLC’s holdings in General Electric were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC boosted its stake in shares of 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 acquiring an additional 55 shares during the last quarter. Red Door Wealth Management LLC raised its stake in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. lifted its holdings in General Electric by 4.2% in the 4th 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 boosted its stake in shares of General Electric by 3.0% during the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 58 shares during the last quarter. Finally, Northeast Investment Management grew its holdings in shares of General Electric by 2.2% during the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Three research 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, General Electric presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 1.2 %

Shares of NYSE:GE opened at $201.56 on Thursday. General Electric has a 1 year low of $122.48 and a 1 year high of $212.19. The stock has a 50-day simple moving average of $188.73 and a 200-day simple moving average of $181.58. 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 stock has a market capitalization of $216.34 billion, a P/E ratio of 33.65, a PEG ratio of 2.59 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

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

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.