General Electric (NYSE:GE) Shares Sold by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC decreased its holdings in General Electric (NYSE:GE) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,413 shares of the conglomerate’s stock after selling 239 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in General Electric were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Johnson & White Wealth Management LLC purchased a new stake in General Electric during the fourth quarter valued at about $733,000. Chung Wu Investment Group LLC purchased a new stake in shares of General Electric during the 4th quarter worth about $795,000. National Bank of Canada FI grew its holdings in shares of General Electric by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock worth $177,535,000 after purchasing an additional 29,844 shares during the period. World Investment Advisors LLC increased its position in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares in the last quarter. Finally, National Pension Service raised its holdings in General Electric by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the conglomerate’s stock valued at $376,051,000 after buying an additional 37,884 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Citigroup decreased their target price on General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

General Electric Stock Performance

General Electric stock opened at $185.74 on Wednesday. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market cap of $199.35 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The stock has a 50 day moving average of $197.59 and a 200-day moving average of $186.61.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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, analysts expect 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. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.78%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend 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.