Sandy Spring Bank Sells 360 Shares of General Electric (NYSE:GE)

Sandy Spring Bank cut its holdings in shares of General Electric (NYSE:GE) by 7.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,328 shares of the conglomerate’s stock after selling 360 shares during the period. Sandy Spring Bank’s holdings in General Electric were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Truvestments Capital LLC lifted its position 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 acquiring an additional 49 shares during the last quarter. Blue Barn Wealth LLC lifted its position in General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares during the last quarter. Finally, WR Wealth Planners LLC raised its holdings in shares of General Electric by 30.6% in the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after buying an additional 56 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of research analyst reports. Bank of America raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group raised their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Up 0.0 %

GE stock opened at $203.99 on Friday. The firm has a market cap of $218.94 billion, a PE ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. 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’s fifty day moving average is $198.63 and its 200 day moving average is $184.87. General Electric has a one year low of $133.99 and a one year high of $212.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business 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 $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 annualized dividend and a dividend yield of 0.71%. General Electric’s dividend payout ratio (DPR) is 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.