Norden Group LLC Sells 22,187 Shares of General Electric (NYSE:GE)

Norden Group LLC lessened its holdings in shares of General Electric (NYSE:GE) by 90.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,250 shares of the conglomerate’s stock after selling 22,187 shares during the period. Norden Group LLC’s holdings in General Electric were worth $375,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter worth $25,000. Hager Investment Management Services LLC bought a new position in shares of General Electric during the fourth quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new position in General Electric in the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the 3rd quarter valued at about $30,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. UBS Group increased their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Down 1.6 %

GE opened at $198.82 on Wednesday. The firm’s 50 day simple moving average is $191.44 and its two-hundred day simple moving average is $182.63. The company has a market capitalization of $213.39 billion, a PE ratio of 33.19, a PEG ratio of 2.59 and a beta of 1.22. General Electric has a 1-year low of $125.26 and a 1-year high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 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 EPS for the quarter, topping 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%. As a group, equities analysts forecast 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. Investors of record on Monday, March 10th will be paid 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 dividend on an annualized basis and a dividend yield of 0.72%. General Electric’s 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.