Intech Investment Management LLC Sells 76,271 Shares of General Electric (NYSE:GE)

Intech Investment Management LLC reduced its position in General Electric (NYSE:GE) by 44.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,261 shares of the conglomerate’s stock after selling 76,271 shares during the quarter. Intech Investment Management LLC’s holdings in General Electric were worth $15,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Hager Investment Management Services LLC bought a new position in shares of General Electric during the fourth quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the fourth quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new position in shares of General Electric during the fourth quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of General Electric during the third quarter valued at $30,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 68 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of GE opened at $202.23 on Tuesday. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19. The business has a 50-day simple moving average of $196.14 and a two-hundred day simple moving average of $184.20. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $217.06 billion, a PE ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly 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 return on equity of 22.19% and a net margin of 14.31%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GE shares. JPMorgan Chase & Co. raised their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.