Federated Hermes Inc. Lowers Holdings in General Electric (NYSE:GE)

Federated Hermes Inc. reduced its position in General Electric (NYSE:GE) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 705,816 shares of the conglomerate’s stock after selling 96,237 shares during the quarter. Federated Hermes Inc. owned about 0.07% of General Electric worth $117,723,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Quarry LP boosted its holdings in General Electric by 564.7% in the 3rd quarter. Quarry LP now owns 226 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 192 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of General Electric in the third quarter valued at approximately $6,733,000. Kovitz Investment Group Partners LLC grew its holdings in General Electric by 422.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 19,638 shares of the conglomerate’s stock worth $3,703,000 after acquiring an additional 15,881 shares during the period. EP Wealth Advisors LLC raised its position in General Electric by 49.6% in the third quarter. EP Wealth Advisors LLC now owns 28,891 shares of the conglomerate’s stock worth $5,448,000 after acquiring an additional 9,574 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in General Electric by 3,453.4% in the third quarter. iA Global Asset Management Inc. now owns 83,861 shares of the conglomerate’s stock valued at $15,815,000 after acquiring an additional 81,501 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GE shares. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Bank of America lifted their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $214.73.

General Electric Stock Performance

NYSE GE opened at $166.76 on Friday. 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 has a fifty-two week low of $146.78 and a fifty-two week high of $214.21. The business has a fifty day moving average of $201.56 and a 200-day moving average of $187.07. The stock has a market cap of $178.98 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

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

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is presently 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.