Harbour Investments Inc. Sells 609 Shares of General Electric (NYSE:GE)

Harbour Investments Inc. trimmed its stake in General Electric (NYSE:GE) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,819 shares of the conglomerate’s stock after selling 609 shares during the quarter. Harbour Investments Inc.’s holdings in General Electric were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GE. Johnson & White Wealth Management LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $733,000. Chung Wu Investment Group LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $795,000. State Street Corp lifted its position in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC lifted its position in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

General Electric stock opened at $200.74 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $133.99 and a one year high of $212.19. The firm has a market cap of $215.45 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The stock’s fifty day moving average price is $196.70 and its two-hundred day moving average price is $184.38.

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

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Bank of America lifted their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic assumed 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.31.

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.