Zacks Investment Management Reduces Stock Holdings in General Electric (NYSE:GE)

Zacks Investment Management lessened its holdings in shares of General Electric (NYSE:GE) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,419 shares of the conglomerate’s stock after selling 245 shares during the period. Zacks Investment Management’s holdings in General Electric were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of General Electric by 3.4% during the 4th quarter. NewEdge Advisors LLC now owns 83,913 shares of the conglomerate’s stock valued at $13,996,000 after buying an additional 2,776 shares during the last quarter. Main Street Financial Solutions LLC lifted its holdings in General Electric by 142.3% in the fourth quarter. Main Street Financial Solutions LLC now owns 4,535 shares of the conglomerate’s stock valued at $756,000 after acquiring an additional 2,663 shares during the period. Evergreen Capital Management LLC boosted its position in General Electric by 2.5% in the 4th quarter. Evergreen Capital Management LLC now owns 7,025 shares of the conglomerate’s stock worth $1,174,000 after purchasing an additional 172 shares in the last quarter. Acorns Advisers LLC grew its stake in shares of General Electric by 57.2% during the 4th quarter. Acorns Advisers LLC now owns 2,095 shares of the conglomerate’s stock worth $349,000 after purchasing an additional 762 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of General Electric during the 4th quarter valued at approximately $400,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GE. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research upgraded 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. Finally, Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.33.

General Electric Trading Down 0.3 %

Shares of GE opened at $181.88 on Friday. General Electric has a 52-week low of $148.83 and a 52-week high of $214.21. The stock has a market cap of $195.21 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The firm’s fifty day moving average is $196.12 and its two-hundred day moving average is $186.50. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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

General Electric Increases Dividend

The business also recently declared 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 represents a $1.44 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

About General Electric

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.