Harvest Fund Management Co. Ltd Has $1.51 Million Stock Holdings in General Electric (NYSE:GE)

Harvest Fund Management Co. Ltd trimmed its stake in shares of General Electric (NYSE:GE) by 64.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,023 shares of the conglomerate’s stock after selling 16,720 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in General Electric were worth $1,505,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC increased its position in General Electric by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 49 shares in the last quarter. Blue Barn Wealth LLC increased its position in General Electric by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares in the last quarter. Game Plan Financial Advisors LLC increased its position in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after acquiring an additional 55 shares during the period. Red Door Wealth Management LLC increased its position in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 56 shares during the period. Finally, WR Wealth Planners LLC increased its position in General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 56 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $205.67 on Thursday. General Electric has a 52-week low of $133.99 and a 52-week high of $212.19. The company has a 50-day simple moving average of $197.36 and a 200 day simple moving average of $184.53. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $220.75 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 net margin of 14.31% and a return on equity of 22.19%. On average, research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 yield of 0.70%. 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 dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Wells Fargo & Company upped their price target on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric 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.