General Electric (NYSE:GE) Shares Sold by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC trimmed its holdings in General Electric (NYSE:GE) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,300 shares of the conglomerate’s stock after selling 461 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in General Electric were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GE. Peterson Financial Group Inc. acquired a new stake in General Electric during the third quarter worth about $28,000. RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the third quarter worth about $30,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the fourth quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new stake in General Electric during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in General Electric during the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on GE. Deutsche Bank Aktiengesellschaft cut their price objective 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. Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Citigroup increased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Up 2.6 %

GE stock opened at $197.39 on Monday. The company’s 50 day moving average is $195.54 and its two-hundred day moving average is $184.00. The stock has a market cap of $211.85 billion, a P/E ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $131.91 and a twelve month high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating 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%. Research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. 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. 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.