General Electric (NYSE:GE) Stock Position Reduced by Foster Dykema Cabot & Partners LLC

Foster Dykema Cabot & Partners LLC trimmed its position in General Electric (NYSE:GE) by 27.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,381 shares of the conglomerate’s stock after selling 513 shares during the quarter. Foster Dykema Cabot & Partners LLC’s holdings in General Electric were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC grew its position in shares of General Electric by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock valued at $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC raised its stake in General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank bought a new position in General Electric in the fourth quarter worth about $2,375,439,000. Finally, Invesco Ltd. boosted its stake in General Electric by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GE. Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup reduced their target price on shares of General Electric from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

General Electric Stock Down 1.7 %

GE opened at $182.60 on Thursday. The stock’s fifty day moving average is $197.13 and its 200-day moving average is $186.58. General Electric has a one year low of $146.78 and a one year high of $214.21. The company has a market capitalization of $195.98 billion, a PE ratio of 30.48, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 yield of 0.79%. General Electric’s payout ratio is 24.04%.

General Electric Company 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.