Edgar Lomax Co. VA Reduces Stock Position in General Electric (NYSE:GE)

Edgar Lomax Co. VA cut its holdings in General Electric (NYSE:GEFree Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,475 shares of the conglomerate’s stock after selling 1,870 shares during the period. Edgar Lomax Co. VA’s holdings in General Electric were worth $16,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GE. Johnson & White Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $795,000. National Bank of Canada FI grew its stake in shares of General Electric by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock valued at $177,535,000 after buying an additional 29,844 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares during the period. Finally, National Pension Service lifted its stake in shares of General Electric by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the conglomerate’s stock worth $376,051,000 after acquiring an additional 37,884 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.3 %

Shares of NYSE GE opened at $181.88 on Friday. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The business has a fifty day moving average price of $196.12 and a 200 day moving average price of $186.50. The stock has a market capitalization of $195.21 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GEGet Free Report) 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%. Equities research analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

Analyst Ratings Changes

A number of research firms have weighed in on GE. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. 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 research note on Monday, January 27th. Northcoast Research raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, April 9th. Wells Fargo & Company raised their target price on shares of General Electric from $203.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

View Our Latest Stock Analysis on GE

General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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