Amalgamated Bank Sells 6,517 Shares of General Electric (NYSE:GE)

Amalgamated Bank trimmed its stake in shares of General Electric (NYSE:GE) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 221,862 shares of the conglomerate’s stock after selling 6,517 shares during the quarter. Amalgamated Bank’s holdings in General Electric were worth $37,004,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter worth $25,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric during the 4th quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Electric during the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric during the 3rd quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of GE opened at $198.68 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $213.24 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The firm’s fifty day simple moving average is $187.23 and its two-hundred day simple moving average is $181.22. General Electric has a 12 month low of $122.48 and a 12 month high of $212.19.

General Electric (NYSE:GE) last issued its quarterly 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%. As a group, analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend 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.