First Horizon Advisors Inc. Sells 70 Shares of General Electric (NYSE:GE)

First Horizon Advisors Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,540 shares of the conglomerate’s stock after selling 70 shares during the period. First Horizon Advisors Inc.’s holdings in General Electric were worth $924,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Game Plan Financial Advisors LLC raised its holdings in shares of General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after acquiring an additional 55 shares during the period. Red Door Wealth Management LLC raised its stake in shares of General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the period. Saxon Interests Inc. lifted its holdings in shares of General Electric by 4.2% in the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares in the last quarter. Old North State Wealth Management LLC lifted its holdings in shares of General Electric by 3.0% in the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after purchasing an additional 58 shares in the last quarter. Finally, Northeast Investment Management boosted its position in shares of General Electric by 2.2% during the fourth quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after buying an additional 59 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GE. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Redburn Atlantic assumed coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Wells Fargo & Company increased their target price 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. Deutsche Bank Aktiengesellschaft lowered their price target 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. Finally, Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Price Performance

NYSE:GE opened at $198.68 on Tuesday. General Electric has a 12-month low of $122.48 and a 12-month high of $212.19. The firm has a market capitalization of $213.24 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 2.59 and a beta of 1.22. The stock’s 50 day moving average price is $187.23 and its two-hundred day moving average price 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 earnings per share 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%. On average, analysts anticipate that General Electric will post 5.4 earnings per share for the current 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

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.