Townsquare Capital LLC Trims Position in General Electric (NYSE:GE)

Townsquare Capital LLC lowered its holdings in General Electric (NYSE:GE) by 32.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,503 shares of the conglomerate’s stock after selling 18,098 shares during the period. Townsquare Capital LLC’s holdings in General Electric were worth $6,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New Age Alpha Advisors LLC boosted its holdings in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in General Electric during the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of General Electric in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the 4th quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Electric during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $181.60 on Monday. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $194.91 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.59 and a beta of 1.04. The business’s 50 day moving average is $198.36 and its two-hundred day moving average is $186.61.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. Analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed 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. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

Analyst Ratings Changes

A number of brokerages have weighed in on GE. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company cut their price objective on General Electric from $250.00 to $203.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.73.

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.