General Electric (NYSE:GE) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lessened its stake in shares of General Electric (NYSE:GE - Free Report) by 12.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 56,310 shares of the conglomerate's stock after selling 7,930 shares during the period. Beacon Pointe Advisors LLC's holdings in General Electric were worth $7,187,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GE. Northern Trust Corp raised its holdings in shares of General Electric by 4.0% in the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate's stock worth $1,170,551,000 after buying an additional 410,061 shares during the period. Morgan Stanley increased its stake in General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate's stock worth $990,032,000 after purchasing an additional 434,736 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate's stock worth $534,123,000 after purchasing an additional 318,245 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $520,488,000. Finally, Meritage Group LP grew its holdings in shares of General Electric by 3.5% in the third quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate's stock worth $364,157,000 after purchasing an additional 110,000 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GE shares. The Goldman Sachs Group lifted their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Citigroup increased their price objective on General Electric from $120.43 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on General Electric from $165.00 to $192.00 and gave the company an "overweight" rating in a research report on Monday, April 29th. StockNews.com started coverage on General Electric in a research report on Monday, April 29th. They set a "hold" rating on the stock. Finally, TD Cowen upgraded General Electric from a "hold" rating to a "buy" rating and lifted their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.21.

General Electric Stock Down 0.8 %

Shares of General Electric stock traded down $1.23 during trading on Friday, reaching $159.89. The company's stock had a trading volume of 5,889,129 shares, compared to its average volume of 7,702,328. The company has a 50-day simple moving average of $162.89 and a two-hundred day simple moving average of $141.73. General Electric has a 1-year low of $79.76 and a 1-year high of $170.80. The company has a market cap of $175.02 billion, a price-to-earnings ratio of 52.42, a P/E/G ratio of 2.90 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities analysts forecast that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This is an increase from General Electric's previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, April 12th. General Electric's payout ratio is presently 36.72%.

General Electric 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.