Avantax Planning Partners Inc. Sells 553 Shares of General Electric (NYSE:GE)

Avantax Planning Partners Inc. lowered its stake in General Electric (NYSE:GE) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,334 shares of the conglomerate’s stock after selling 553 shares during the quarter. Avantax Planning Partners Inc.’s holdings in General Electric were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Barn Wealth LLC lifted its holdings in shares of General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after acquiring an additional 54 shares during the last quarter. Game Plan Financial Advisors LLC increased its stake in shares of General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after buying an additional 55 shares during the period. Red Door Wealth Management LLC increased its stake in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares during the period. WR Wealth Planners LLC increased its stake in shares of General Electric by 30.6% in the fourth quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after buying an additional 56 shares during the period. Finally, Saxon Interests Inc. increased its stake in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $195.21 on Thursday. The stock has a market capitalization of $209.52 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19. The stock’s 50 day moving average price is $194.56 and its two-hundred day moving average price is $183.58. 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 posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities analysts predict that General Electric will post 5.4 earnings per share for the current 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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.