Associated Banc Corp Reduces Stock Position in General Electric (NYSE:GE)

Associated Banc Corp lessened its stake in shares of General Electric (NYSE:GE) by 55.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,750 shares of the conglomerate’s stock after selling 5,962 shares during the quarter. Associated Banc Corp’s holdings in General Electric were worth $792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter valued at about $25,000. Hager Investment Management Services LLC purchased a new stake in General Electric in the 4th quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the 3rd quarter valued at about $28,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric in the 4th quarter valued at about $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in General Electric in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $197.39 on Friday. The business’s 50 day moving average is $195.54 and its two-hundred day moving average is $183.91. General Electric has a 52-week low of $131.91 and a 52-week high of $212.19. The firm has a market cap of $211.85 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.59 and a beta of 1.19. 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 announced 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 return on equity of 22.19% and a net margin of 14.31%. Analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price for the company. UBS Group boosted 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. Citigroup boosted their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft decreased 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. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.