General Electric (NYSE:GE) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lowered its position in shares of General Electric (NYSE:GE) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,471 shares of the conglomerate’s stock after selling 294 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in General Electric were worth $1,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hager Investment Management Services LLC acquired a new position in General Electric during the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric in the third quarter valued at approximately $30,000. Finally, Picton Mahoney Asset Management increased its holdings in shares of General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. UBS Group boosted 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. Finally, Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Trading Up 2.4 %

Shares of NYSE GE opened at $205.67 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $220.75 billion, a PE ratio of 34.34, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19. The stock has a fifty day simple moving average of $197.36 and a 200-day simple moving average of $184.53.

General Electric (NYSE:GE) last issued its quarterly earnings results 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%. On average, equities analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.70%. General Electric’s dividend payout ratio is 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.