Deseret Mutual Benefit Administrators Sells 112 Shares of General Electric (NYSE:GE)

Deseret Mutual Benefit Administrators lowered its position in shares of General Electric (NYSE:GE) by 20.6% during the fourth quarter, HoldingsChannel reports. The fund owned 433 shares of the conglomerate’s stock after selling 112 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in General Electric were worth $72,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC grew its position in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $733,000. State Street Corp grew its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC grew its position in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC grew its position 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 buying an additional 5,162 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of analyst reports. Citigroup upped their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company upped 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. Finally, Deutsche Bank Aktiengesellschaft cut 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 investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 4.2 %

GE stock opened at $199.90 on Friday. The stock’s 50 day simple moving average is $186.57 and its 200 day simple moving average is $180.85. General Electric has a fifty-two week low of $119.88 and a fifty-two week high of $212.19. 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 cap of $214.55 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

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

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid 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 0.72%. General Electric’s dividend payout ratio is 18.70%.

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.