Thrivent Financial for Lutherans Sells 130 Shares of General Electric (NYSE:GE)

Thrivent Financial for Lutherans reduced its stake in General Electric (NYSE:GE) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 76,665 shares of the conglomerate’s stock after selling 130 shares during the quarter. Thrivent Financial for Lutherans’ holdings in General Electric were worth $13,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in shares of General Electric by 29.8% during the third quarter. Advisors Asset Management Inc. now owns 18,706 shares of the conglomerate’s stock worth $3,528,000 after buying an additional 4,294 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of General Electric during the 3rd quarter worth approximately $243,000. Citizens Financial Group Inc. RI raised its holdings in shares of General Electric by 20.1% in the third quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock valued at $1,628,000 after purchasing an additional 1,445 shares during the last quarter. Cypress Capital Group lifted its position in shares of General Electric by 3.5% in the third quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock worth $351,000 after purchasing an additional 63 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in General Electric by 5.3% during the third quarter. LPL Financial LLC now owns 842,223 shares of the conglomerate’s stock worth $158,826,000 after purchasing an additional 42,490 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the 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.

General Electric Trading Up 0.0 %

Shares of NYSE:GE opened at $203.99 on Friday. The stock has a market cap of $218.94 billion, a PE ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. 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 has a 12-month low of $133.99 and a 12-month high of $212.19. The business has a 50 day moving average of $198.63 and a 200-day moving average of $184.87.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. 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 annualized dividend and a yield of 0.71%. General Electric’s payout ratio is 24.04%.

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.