Wrapmanager Inc. Reduces Position in General Electric (NYSE:GE)

Wrapmanager Inc. lowered its position in General Electric (NYSE:GE) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,481 shares of the conglomerate’s stock after selling 131 shares during the quarter. Wrapmanager Inc.’s holdings in General Electric were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at $25,000. Hager Investment Management Services LLC acquired a new position in General Electric in the 4th quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the 3rd quarter valued at about $28,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric during the 4th quarter worth approximately $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the 3rd quarter worth approximately $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GE shares. UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Price Performance

Shares of NYSE:GE opened at $198.68 on Tuesday. 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 business’s fifty day moving average price is $187.23 and its two-hundred day moving average price is $181.22. The stock has a market cap of $213.24 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. General Electric has a one year low of $122.48 and a one year high of $212.19.

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

General Electric Increases Dividend

The company also recently disclosed 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

About General Electric

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.