Accredited Investors Inc. Cuts Stake in General Electric (NYSE:GE)

Accredited Investors Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,948 shares of the conglomerate’s stock after selling 783 shares during the period. Accredited Investors Inc.’s holdings in General Electric were worth $1,159,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GE. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $733,000. Chung Wu Investment Group LLC acquired a new position in General Electric in the 4th quarter valued at about $795,000. Soltis Investment Advisors LLC lifted its holdings in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of General Electric by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock worth $177,535,000 after purchasing an additional 29,844 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 2.5 %

Shares of GE opened at $182.50 on Thursday. The firm’s 50-day moving average price is $199.23 and its 200-day moving average price is $186.70. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $195.88 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. Sell-side analysts anticipate 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. 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 is 24.04%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on General Electric from $250.00 to $203.00 and set an “overweight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Bank of America raised their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.27.

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.