Parallel Advisors LLC Sells 328 Shares of General Electric (NYSE:GE)

Parallel Advisors LLC reduced its holdings in General Electric (NYSE:GE) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 16,376 shares of the conglomerate’s stock after selling 328 shares during the quarter. Parallel Advisors LLC’s holdings in General Electric were worth $2,731,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in General Electric in the 3rd quarter valued at $30,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $27,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric in the fourth quarter valued at about $29,000. CBIZ Investment Advisory Services LLC acquired a new position in General Electric during the 4th quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management grew its stake in shares of General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $202.23 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock’s fifty day moving average price is $196.14 and its two-hundred day moving average price is $184.20. General Electric has a one year low of $133.99 and a one year high of $212.19. The firm has a market cap of $217.06 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released 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 forecast that General Electric will post 5.4 EPS for the current 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 paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GE. UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted 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. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.