Peregrine Asset Advisers Inc. Trims Stock Holdings in General Electric (NYSE:GE)

Peregrine Asset Advisers Inc. lowered its holdings in General Electric (NYSE:GE) by 82.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,391 shares of the conglomerate’s stock after selling 24,814 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in General Electric were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GE. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the third quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric in the third quarter worth about $28,000. RPg Family Wealth Advisory LLC bought a new position in shares of General Electric in the third quarter valued at approximately $30,000. Finally, Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter valued at approximately $27,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 4.2 %

GE stock opened at $199.90 on Friday. The company has a market capitalization of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a one year low of $119.88 and a one year high of $212.19. The company’s 50 day moving average price is $186.57 and its two-hundred day moving average price is $180.72.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 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%. 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.72%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased 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. UBS Group lifted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric 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.