Rockefeller Capital Management L.P. lowered its stake in shares of General Electric (NYSE:GE - Free Report) by 36.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 364,720 shares of the conglomerate's stock after selling 210,179 shares during the period. Rockefeller Capital Management L.P.'s holdings in General Electric were worth $60,838,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in GE. Truvestments Capital LLC lifted its stake in General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock valued at $39,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of General Electric by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate's stock worth $56,000 after buying an additional 50 shares during the period. Ballast Advisors LLC grew its holdings in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate's stock valued at $349,000 after buying an additional 51 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock worth $245,000 after acquiring an additional 54 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its holdings in shares of General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate's stock valued at $96,000 after purchasing an additional 55 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on GE. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on General Electric from $203.00 to $212.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Finally, Citigroup reduced their target price on shares of General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average price target of $213.33.
Read Our Latest Stock Report on General Electric
General Electric Stock Up 0.5 %
GE stock traded up $0.96 during trading on Thursday, hitting $183.41. 2,723,648 shares of the stock traded hands, compared to its average volume of 5,865,632. The firm's 50 day moving average is $197.13 and its two-hundred day moving average is $186.58. The stock has a market cap of $196.85 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a 1 year low of $146.78 and a 1 year high of $214.21. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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, sell-side analysts anticipate that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. General Electric's payout ratio is currently 24.04%.
General Electric Company Profile
(
Free Report)
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.
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