CIBC Private Wealth Group LLC Reduces Stock Holdings in General Electric (NYSE:GE)

CIBC Private Wealth Group LLC lessened its stake in shares of General Electric (NYSE:GE) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,880 shares of the conglomerate’s stock after selling 10,155 shares during the period. CIBC Private Wealth Group LLC’s holdings in General Electric were worth $15,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after buying an additional 410,172 shares during the last quarter. State Street Corp boosted its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC boosted its holdings in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after acquiring an additional 156,272 shares during the period. Norges Bank bought a new position in General Electric in the 4th quarter valued at $2,375,439,000. Finally, Jennison Associates LLC increased its stake in General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Up 0.2 %

Shares of NYSE GE opened at $200.29 on Tuesday. General Electric has a 1-year low of $133.99 and a 1-year high of $214.21. The business has a fifty day moving average price of $201.87 and a 200 day moving average price of $186.85. The stock has a market capitalization of $214.97 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts expect that General Electric will post 5.4 EPS 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. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. General Electric’s dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GE. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group raised 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. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Two investment 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, General Electric currently has an average rating of “Moderate Buy” and an average target price 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.