General Electric (NYSE:GE) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in General Electric (NYSE:GE - Free Report) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 909,149 shares of the conglomerate's stock after selling 57,542 shares during the quarter. General Electric accounts for approximately 1.7% of Douglas Lane & Associates LLC's portfolio, making the stock its 9th largest holding. Douglas Lane & Associates LLC owned about 0.08% of General Electric worth $100,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its stake in shares of General Electric by 10.0% during the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate's stock worth $27,925,000 after purchasing an additional 27,682 shares in the last quarter. Prudential PLC purchased a new stake in shares of General Electric during the 1st quarter valued at about $1,518,000. Sequoia Financial Advisors LLC lifted its position in General Electric by 2.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate's stock worth $1,075,000 after acquiring an additional 334 shares in the last quarter. Merit Financial Group LLC purchased a new position in General Electric in the 1st quarter worth approximately $388,000. Finally, West Family Investments Inc. acquired a new stake in General Electric in the first quarter valued at approximately $230,000. 74.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GE shares. Barclays upped their target price on shares of General Electric from $131.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, October 25th. JPMorgan Chase & Co. raised their target price on General Electric from $124.00 to $136.00 and gave the company a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on General Electric in a research note on Wednesday, September 27th. They issued a "buy" rating and a $141.00 price target on the stock. TheStreet lowered General Electric from a "b-" rating to a "c" rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada lifted their price objective on General Electric from $131.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric has an average rating of "Moderate Buy" and a consensus target price of $130.43.

General Electric Trading Down 0.2 %

NYSE GE opened at $126.69 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a one year low of $62.88 and a one year high of $128.03. The company has a 50-day simple moving average of $116.41 and a 200-day simple moving average of $112.90. The firm has a market capitalization of $137.89 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.28.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.26. The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $15.46 billion. General Electric had a return on equity of 11.10% and a net margin of 14.38%. General Electric's quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that General Electric will post 2.65 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, December 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Wednesday, December 27th. General Electric's dividend payout ratio is presently 3.61%.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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