Crestwood Advisors Group LLC Sells 841 Shares of General Electric (NYSE:GE)

Crestwood Advisors Group LLC cut its holdings in General Electric (NYSE:GE) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,064 shares of the conglomerate’s stock after selling 841 shares during the period. Crestwood Advisors Group LLC’s holdings in General Electric were worth $2,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. grew its position in shares of General Electric by 69.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock valued at $822,000 after purchasing an additional 1,790 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in General Electric by 0.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,671 shares of the conglomerate’s stock valued at $5,784,000 after buying an additional 209 shares in the last quarter. Arkadios Wealth Advisors increased its stake in General Electric by 2.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock worth $1,136,000 after acquiring an additional 140 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of General Electric by 65.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock worth $394,000 after acquiring an additional 830 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of General Electric by 9.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,275 shares of the conglomerate’s stock valued at $240,000 after acquiring an additional 108 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GE shares. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft decreased 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 report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Performance

GE stock opened at $198.68 on Tuesday. General Electric has a twelve month low of $122.48 and a twelve month high of $212.19. The firm has a market cap of $213.24 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.59 and a beta of 1.21. The business’s fifty day simple moving average is $187.23 and its two-hundred day simple moving average is $181.22. 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 (NYSE:GE) last posted 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%. Analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a $0.36 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s payout ratio is presently 24.04%.

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.