Modera Wealth Management LLC Sells 460 Shares of General Electric (NYSE:GE)

Modera Wealth Management LLC decreased its position in shares of General Electric (NYSE:GE) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,637 shares of the conglomerate’s stock after selling 460 shares during the period. Modera Wealth Management LLC’s holdings in General Electric were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. MMA Asset Management LLC bought a new position in General Electric in the 4th quarter valued at approximately $364,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Electric in the 4th quarter valued at $174,000. Smartleaf Asset Management LLC boosted its holdings in shares of General Electric by 32.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,040 shares of the conglomerate’s stock valued at $1,183,000 after acquiring an additional 1,712 shares in the last quarter. Bridges Investment Management Inc. grew its position in General Electric by 1.8% during the 4th quarter. Bridges Investment Management Inc. now owns 9,610 shares of the conglomerate’s stock worth $1,603,000 after acquiring an additional 171 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in General Electric by 7.3% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,204 shares of the conglomerate’s stock worth $201,000 after purchasing an additional 82 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of GE opened at $201.91 on Tuesday. The firm has a market cap of $216.71 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. General Electric has a 52-week low of $125.26 and a 52-week high of $212.19. The business’s 50 day moving average price is $190.89 and its two-hundred day moving average price is $182.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (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%. On average, equities analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America boosted 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. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup raised their price target on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Finally, 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 research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.