Aspen Investment Management Inc Sells 50 Shares of General Electric (NYSE:GE)

Aspen Investment Management Inc cut its position in shares of General Electric (NYSE:GE) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,130 shares of the conglomerate’s stock after selling 50 shares during the period. Aspen Investment Management Inc’s holdings in General Electric were worth $355,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GE. Jennison Associates LLC boosted its position in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC lifted its stake in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. grew its position in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the last quarter. Finally, State Street Corp increased its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of GE stock opened at $208.93 on Friday. The stock’s 50-day moving average is $185.89 and its 200 day moving average is $180.43. General Electric has a 1-year low of $118.13 and a 1-year 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. The company has a market cap of $224.24 billion, a P/E ratio of 34.88, a PEG ratio of 2.61 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s dividend payout ratio is presently 18.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price 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. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.