Cannell & Spears LLC Sells 18,923 Shares of General Electric (NYSE:GE)

Cannell & Spears LLC trimmed its stake in General Electric (NYSE:GE) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,999 shares of the conglomerate’s stock after selling 18,923 shares during the period. Cannell & Spears LLC’s holdings in General Electric were worth $28,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Financial LLC increased its stake in shares of General Electric by 12.9% during the fourth quarter. Summit Financial LLC now owns 9,281 shares of the conglomerate’s stock valued at $1,551,000 after purchasing an additional 1,063 shares in the last quarter. Hoey Investments Inc. grew its stake in shares of General Electric by 18.8% in the 4th quarter. Hoey Investments Inc. now owns 37,563 shares of the conglomerate’s stock worth $6,265,000 after buying an additional 5,952 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in General Electric by 374.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,778 shares of the conglomerate’s stock valued at $297,000 after buying an additional 1,403 shares in the last quarter. Meeder Asset Management Inc. raised its stake in General Electric by 216.9% during the fourth quarter. Meeder Asset Management Inc. now owns 564 shares of the conglomerate’s stock valued at $94,000 after buying an additional 386 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in General Electric by 85.6% in the fourth quarter. AIA Group Ltd now owns 40,978 shares of the conglomerate’s stock worth $6,835,000 after acquiring an additional 18,897 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GE. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research 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 currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Down 3.0 %

Shares of General Electric stock opened at $199.66 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $214.29 billion, a PE ratio of 33.33, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $214.21. The company’s fifty day simple moving average is $201.52 and its 200-day simple moving average is $186.64.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate 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 analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 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.