Tocqueville Asset Management L.P. Lowers Holdings in General Electric (NYSE:GE)

Tocqueville Asset Management L.P. decreased its holdings in General Electric (NYSE:GE) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,660 shares of the conglomerate’s stock after selling 400 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in General Electric were worth $1,111,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the fourth quarter worth approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric in the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the 3rd quarter worth $30,000. Finally, Picton Mahoney Asset Management grew its stake 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 worth $30,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 2.4 %

NYSE GE opened at $205.67 on Thursday. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The company has a market capitalization of $220.75 billion, a P/E ratio of 34.34, a PEG ratio of 2.59 and a beta of 1.19. The company’s 50 day simple moving average is $197.36 and its 200 day simple moving average is $184.53. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. Equities 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 declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric 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.