Heritage Investors Management Corp Sells 588 Shares of General Electric (NYSE:GE)

Heritage Investors Management Corp reduced its holdings in General Electric (NYSE:GE) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,328 shares of the conglomerate’s stock after selling 588 shares during the period. Heritage Investors Management Corp’s holdings in General Electric were worth $3,724,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter worth approximately $25,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $28,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $30,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $27,000. Finally, Costello Asset Management INC grew its holdings in shares of General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

General Electric stock opened at $201.40 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market cap of $216.17 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.59 and a beta of 1.21. The business’s fifty day moving average is $189.46 and its two-hundred day moving average is $181.72. General Electric has a 52 week low of $123.06 and a 52 week high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. Equities research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 24.04%.

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.